This page reflects FROG 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 — FROG
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $52.50 (20.93 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$52.50
Nearest expiry
Expected Move
±$10.75
±14.6%
Days to Expiry
29
Calendar days
Total Call OI
8,702
Nearest expiry
Total Put OI
3,125
Nearest expiry
P/C OI Ratio
0.36
Put-heavy
Spot Price
$73.43
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
$42.50
4/17/2026, 11:12:24 PM
2026-05-15
$50.00
5/15/2026, 11:15:01 PM
2026-06-18NextUpdated
$52.50
5/20/2026, 11:15:06 PM
2026-07-17
$65.00
5/20/2026, 11:15:06 PM
2026-09-18
$70.00
5/20/2026, 11:15:06 PM
2026-12-18
$45.00
5/20/2026, 11:15:06 PM
2027-01-15
$40.00
5/20/2026, 11:15:06 PM
Selected expiration: 2026-06-18 at max pain $52.50.
FROG pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
9610750
9610750
25
0
8048250
8048250
27.5
0
7271750
7271750
30
0
6496250
6496250
32.5
2500
5741500
5744000
35
5500
5062000
5067500
37.5
10250
4395500
4405750
40
45500
3744750
3790250
42.5
82500
3111750
3194250
45
137250
2489250
2626500
47.5
233250
1890000
2123250
50
358250
1350500
1708750
52.5
558000
828250
1386250
55
782000
625000
1407000
57.5
1061250
455500
1516750
60
1370000
310750
1680750
62.5
1723750
199250
1923000
65
2109750
99000
2208750
67.5
2637750
34750
2672500
70
3386250
5250
3391500
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.