This page reflects FRMM 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 — FRMM
Data as of market close May 19, 2026
Nearest listed expiration 2026-06-18 shows max pain at $5.00 (1.09 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$5.00
Nearest expiry
Expected Move
±$1.40
±35.8%
Days to Expiry
30
Calendar days
Total Call OI
7,267
Nearest expiry
Total Put OI
780
Nearest expiry
P/C OI Ratio
0.11
Put-heavy
Spot Price
$3.91
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
$2.00
4/17/2026, 11:13:13 PM
2026-05-15
$5.00
5/15/2026, 11:15:00 PM
2026-06-18NextUpdated
$5.00
5/19/2026, 11:13:15 PM
2026-09-18
$6.00
5/19/2026, 11:13:15 PM
2026-12-18
$5.00
5/19/2026, 11:13:15 PM
2027-01-15
$10.00
5/19/2026, 11:13:15 PM
Selected expiration: 2026-06-18 at max pain $5.00.
FRMM pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
265900
265900
2
700
188000
188700
3
17900
111600
129500
4
39500
41100
80600
5
69300
5600
74900
6
128400
3900
132300
7
438800
2500
441300
8
758700
1500
760200
9
1093800
700
1094500
10
1437400
0
1437400
11
1825300
0
1825300
12
2213400
0
2213400
13
2603600
0
2603600
14
2993800
0
2993800
15
3390300
0
3390300
16
3802000
0
3802000
17
4213700
0
4213700
18
4625400
0
4625400
19
5037100
0
5037100
20
5448800
0
5448800
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.