Nearest listed expiration 2026-05-22 shows max pain at $37.00 (0.72 above 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
±$0.67
±1.8%
Days to Expiry
3
Calendar days
Total Call OI
70,552
Nearest expiry
Total Put OI
73,865
Nearest expiry
P/C OI Ratio
1.05
Put-heavy
Spot Price
$36.28
Published close
Consensus
8.5/10
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
$36.50
5/8/2026, 11:13:17 PM
2026-05-15
$37.00
5/15/2026, 11:15:58 PM
2026-05-22NextUpdated
$37.00
5/19/2026, 11:13:03 PM
2026-05-29
$36.50
5/19/2026, 11:13:03 PM
2026-06-05
$36.00
5/19/2026, 11:13:03 PM
2026-06-12
$34.00
5/19/2026, 11:13:03 PM
2026-06-18
$38.00
5/19/2026, 11:13:03 PM
2026-06-26
$37.50
5/19/2026, 11:13:03 PM
2026-06-30
$38.00
5/19/2026, 11:13:03 PM
2026-07-17
$37.00
5/19/2026, 11:13:03 PM
2026-08-21
$38.00
5/19/2026, 11:13:03 PM
2026-09-18
$38.00
5/19/2026, 11:13:03 PM
2026-09-30
$36.00
5/19/2026, 11:13:03 PM
2026-10-16
$36.00
5/19/2026, 11:13:03 PM
2026-11-20
$38.00
5/19/2026, 11:13:03 PM
2026-12-18
$40.00
5/19/2026, 11:13:03 PM
2026-12-31
$35.00
5/19/2026, 11:13:03 PM
2027-01-15
$37.00
5/19/2026, 11:13:03 PM
2027-02-19
$37.00
5/19/2026, 11:13:03 PM
2027-03-19
$36.00
5/19/2026, 11:13:03 PM
2027-03-31
$41.00
5/19/2026, 11:13:03 PM
2027-04-16
$34.00
5/19/2026, 11:13:03 PM
Selected expiration: 2026-05-22 at max pain $37.00.
FXI pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
20847550
20847550
30
0
11428050
11428050
31.5
0
8604300
8604300
32
0
7663100
7663100
32.5
50
6722100
6722150
33
150
5781150
5781300
33.5
300
4840400
4840700
34
500
3899850
3900350
34.5
750
2959450
2960200
35
1050
2062750
2063800
35.5
3150
1460250
1463400
36
9250
866950
876200
36.5
94800
424650
519450
37
198150
14800
212950
37.5
733400
3350
736750
38
1738600
500
1739100
38.5
3066800
100
3066900
39
5245550
0
5245550
39.5
8460350
0
8460350
40
11689500
0
11689500
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.