This page reflects GFS 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 — GFS
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $75.00 (4.21 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$75.00
Nearest expiry
Expected Move
±$10.50
±14.8%
Days to Expiry
29
Calendar days
Total Call OI
10,655
Nearest expiry
Total Put OI
12,183
Nearest expiry
P/C OI Ratio
1.14
Put-heavy
Spot Price
$70.79
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
$35.00
4/17/2026, 11:14:47 PM
2026-05-15
$55.00
5/15/2026, 11:17:27 PM
2026-06-18NextUpdated
$75.00
5/20/2026, 11:16:13 PM
2026-07-17
$40.00
5/20/2026, 11:16:13 PM
2026-10-16
$65.00
5/20/2026, 11:16:13 PM
2027-01-15
$45.00
5/20/2026, 11:16:13 PM
Selected expiration: 2026-06-18 at max pain $75.00.
GFS pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
43777500
43777500
40
0
31596500
31596500
45
500
25563500
25564000
50
9500
19588500
19598000
55
47500
13826000
13873500
60
238500
8901500
9140000
65
877500
4806000
5683500
70
1877500
2143000
4020500
75
3205000
37000
3242000
80
5222500
8500
5231000
85
7650500
3000
7653500
90
10281000
2000
10283000
95
14339000
1000
14340000
100
18703500
0
18703500
105
24004000
0
24004000
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.