This page reflects FRMI options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 19, 2026 close
Max Pain — FRMI
Data as of market close May 19, 2026
Nearest listed expiration 2026-05-22 shows max pain at $5.50 (0.37 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$5.50
Nearest expiry
Expected Move
±$0.60
±10.2%
Days to Expiry
3
Calendar days
Total Call OI
20,770
Nearest expiry
Total Put OI
24,116
Nearest expiry
P/C OI Ratio
1.16
Put-heavy
Spot Price
$5.87
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
$5.50
5/8/2026, 11:12:27 PM
2026-05-15
$5.50
5/15/2026, 11:14:37 PM
2026-05-22NextUpdated
$5.50
5/19/2026, 11:15:10 PM
2026-05-29
$6.00
5/19/2026, 11:15:10 PM
2026-06-05
$5.50
5/19/2026, 11:15:10 PM
2026-06-12
$6.00
5/19/2026, 11:15:10 PM
2026-06-18
$7.00
5/19/2026, 11:15:10 PM
2026-06-26
$6.00
5/19/2026, 11:15:10 PM
2026-07-17
$5.00
5/19/2026, 11:15:10 PM
2026-08-21
$6.00
5/19/2026, 11:15:10 PM
2026-11-20
$6.00
5/19/2026, 11:15:10 PM
2026-12-18
$6.00
5/19/2026, 11:15:10 PM
2027-01-15
$5.00
5/19/2026, 11:15:10 PM
Selected expiration: 2026-05-22 at max pain $5.50.
FRMI pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
12094150
12094150
1
100
10888500
10888600
1.5
600
9683100
9683700
2
1100
8477750
8478850
2.5
1850
7272400
7274250
3
3150
6068150
6071300
3.5
109500
4864000
4973500
4
215850
3661200
3877050
4.5
332850
2475600
2808450
5
455850
1328750
1784600
5.5
594650
292700
887350
6
785000
120700
905700
6.5
1043000
48750
1091750
7
1423100
11150
1434250
7.5
2151750
6600
2158350
8
2943700
4000
2947700
8.5
3859800
3050
3862850
9
4831900
2250
4834150
9.5
5844000
1500
5845500
10
6858800
800
6859600
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.