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GLD

SPDR Gold SharesClose $411.50EOD only
Max Pain
$420.00
Next expiry May 20, 2026
Expected Move
±$4.43
1.1% from close
Price Gap
+8.50
Distance to max pain
IV Rank
12
Low premium
P/C OI
0.57
Slightly call-heavy
Consensus
5.5/10
Range bias
Published snapshot: May 19, 2026 close
End-of-day snapshot

This page reflects GLD 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 — GLD
Data as of market close May 19, 2026
Open Directional Report

Nearest listed expiration 2026-05-20 shows max pain at $420.00 (8.50 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike
$420.00
Nearest expiry
Expected Move
±$4.43
±1.1%
Days to Expiry
1
Calendar days
Total Call OI
16,558
Nearest expiry
Total Put OI
12,374
Nearest expiry
P/C OI Ratio
0.75
Put-heavy
Spot Price
$411.50
Published close
Consensus
5.5/10
Open report for full read

Max Pain by Expiration

Pain by Strike

Drill into expiration
Selected: 2026-05-20
ExpirationMax Pain StrikeLast Updated
2026-05-15$420.005/15/2026, 11:19:37 PM
2026-05-18$429.005/15/2026, 11:19:37 PM
2026-05-20NextUpdated$420.005/19/2026, 11:17:55 PM
2026-05-22$419.005/19/2026, 11:17:55 PM
2026-05-27$417.005/19/2026, 11:17:55 PM
2026-05-29$421.005/19/2026, 11:17:55 PM
2026-06-05$424.005/19/2026, 11:17:55 PM
2026-06-12$421.005/19/2026, 11:17:55 PM
2026-06-18$400.005/19/2026, 11:17:55 PM
2026-06-26$420.005/19/2026, 11:17:55 PM
2026-06-30$410.005/19/2026, 11:17:55 PM
2026-07-17$430.005/19/2026, 11:17:55 PM
2026-08-21$440.005/19/2026, 11:17:55 PM
2026-09-18$410.005/19/2026, 11:17:55 PM
2026-09-30$415.005/19/2026, 11:17:55 PM
2026-10-16$435.005/19/2026, 11:17:55 PM
2026-11-20$420.005/19/2026, 11:17:55 PM
2026-12-18$450.005/19/2026, 11:17:55 PM
2026-12-31$433.005/19/2026, 11:17:55 PM
2027-01-15$380.005/19/2026, 11:17:55 PM
2027-03-19$430.005/19/2026, 11:17:55 PM
2027-03-31$420.005/19/2026, 11:17:55 PM
Selected expiration: 2026-05-20 at max pain $420.00.
GLD pain by strike for 2026-05-20 expiration
StrikeCall PainPut PainTotal Pain
3000121681300121681300
3050115494300115494300
310500109307300109307800
3151500103125300103126800
32030009694330096946300
32550009076130090766300
33070008457930084586300
340110007221530072226300
345130006603580066048800
350150005985780059872800
355170005369530053712300
360190004799180048010800
365210004255580042576800
370230003725830037281300
375250003200980032034800
380270002682130026848300
385290002203730022066300
390310001731130017342300
395330001285980012892800
4003500086883008723300
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.