This page reflects GFI 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 — GFI
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $40.00 (0.67 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$5.08
±12.5%
Days to Expiry
29
Calendar days
Total Call OI
8,244
Nearest expiry
Total Put OI
2,280
Nearest expiry
P/C OI Ratio
0.28
Put-heavy
Spot Price
$40.67
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
$41.00
4/17/2026, 11:13:13 PM
2026-05-15
$45.00
5/15/2026, 11:17:11 PM
2026-06-18NextUpdated
$40.00
5/20/2026, 11:16:00 PM
2026-07-17
$45.00
5/20/2026, 11:16:00 PM
2026-09-18
$45.00
5/20/2026, 11:16:00 PM
2026-10-16
$40.00
5/20/2026, 11:16:00 PM
2027-01-15
$50.00
5/20/2026, 11:16:00 PM
2027-03-19
$45.00
5/20/2026, 11:16:00 PM
Selected expiration: 2026-06-18 at max pain $40.00.
GFI pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
2273000
2273000
35
0
1134000
1134000
40
12000
187500
199500
45
435500
28000
463500
50
2269500
2500
2272000
55
5304500
0
5304500
60
9405500
0
9405500
65
13524500
0
13524500
70
17645000
0
17645000
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.