This page reflects FLS options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 20, 2026 close
Max Pain — FLS
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $65.00 (3.28 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$65.00
Nearest expiry
Expected Move
±$6.70
±9.8%
Days to Expiry
29
Calendar days
Total Call OI
792
Nearest expiry
Total Put OI
439
Nearest expiry
P/C OI Ratio
0.55
Put-heavy
Spot Price
$68.28
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-06-18
Expiration
Max Pain Strike
Last Updated
2026-04-17
$70.00
4/17/2026, 11:12:02 PM
2026-05-15
$70.00
5/15/2026, 11:13:05 PM
2026-06-18NextUpdated
$65.00
5/20/2026, 11:14:19 PM
2026-07-17
$70.00
5/20/2026, 11:14:19 PM
2026-10-16
$75.00
5/20/2026, 11:14:19 PM
2027-01-15
$70.00
5/20/2026, 11:14:19 PM
Selected expiration: 2026-06-18 at max pain $65.00.
FLS pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
618000
618000
55
1000
398500
399500
60
27500
180500
208000
65
84500
70500
155000
70
143500
16000
159500
75
238000
2500
240500
80
404000
0
404000
85
652000
0
652000
90
993000
0
993000
100
1778000
0
1778000
How to Read Max Pain
Compare pin-risk and strike-pressure across expirations from the latest published close.
What max pain measures
Max pain is the strike where option holders would collectively lose the most at expiration, based on open interest across the listed chain.
How traders use it
It is most useful as a possible pinning zone, especially when spot is already trading near a crowded strike into expiration.
What can break it
Strong directional flows, news, or fast spot moves can overwhelm any pinning tendency, so max pain should support a thesis rather than drive it alone.
The closer you are to expiration, the more useful this becomes as context and the less useful it is as a standalone prediction.