This page reflects FLY 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 — FLY
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $37.00 (7.00 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$37.00
Nearest expiry
Expected Move
±$4.12
±9.4%
Days to Expiry
2
Calendar days
Total Call OI
8,000
Nearest expiry
Total Put OI
5,240
Nearest expiry
P/C OI Ratio
0.66
Put-heavy
Spot Price
$44.00
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-22
Expiration
Max Pain Strike
Last Updated
2026-05-08
$33.50
5/8/2026, 11:13:43 PM
2026-05-15
$30.00
5/15/2026, 11:16:55 PM
2026-05-22NextUpdated
$37.00
5/20/2026, 11:13:27 PM
2026-05-29
$36.00
5/20/2026, 11:13:27 PM
2026-06-05
$33.00
5/20/2026, 11:13:27 PM
2026-06-12
$40.00
5/20/2026, 11:13:27 PM
2026-06-18
$38.00
5/20/2026, 11:13:27 PM
2026-06-26
$38.00
5/20/2026, 11:13:27 PM
2026-07-17
$35.00
5/20/2026, 11:13:27 PM
2026-08-21
$25.00
5/20/2026, 11:13:27 PM
2026-09-18
$25.00
5/20/2026, 11:13:27 PM
2026-11-20
$20.00
5/20/2026, 11:13:27 PM
2027-01-15
$25.00
5/20/2026, 11:13:27 PM
Selected expiration: 2026-05-22 at max pain $37.00.
FLY pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
9924500
9924500
18
300
8352800
8353100
20
700
7305000
7305700
21
12100
6782100
6794200
21.5
17900
6523650
6541550
22
23700
6270600
6294300
22.5
29650
6019150
6048800
23
35600
5770300
5805900
23.5
41650
5528600
5570250
24
47700
5287000
5334700
24.5
53750
5047450
5101200
25
59800
4808650
4868450
25.5
110700
4574650
4685350
26
161600
4342550
4504150
26.5
212700
4112850
4325550
27
263850
3883150
4147000
27.5
315200
3656200
3971400
28
366550
3441400
3807950
28.5
418000
3236850
3654850
29
469450
3032450
3501900
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.