This page reflects GOLD 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 — GOLD
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $17.00 (24.01 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$17.00
Nearest expiry
Expected Move
±$5.12
±12.5%
Days to Expiry
29
Calendar days
Total Call OI
13,515
Nearest expiry
Total Put OI
10,055
Nearest expiry
P/C OI Ratio
0.74
Put-heavy
Spot Price
$41.01
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
$45.00
4/17/2026, 11:11:53 PM
2026-05-15
$35.00
5/15/2026, 11:15:54 PM
2026-06-18NextUpdated
$17.00
5/20/2026, 11:12:54 PM
2026-07-17
$40.00
5/20/2026, 11:12:54 PM
2026-08-21
$40.00
5/20/2026, 11:12:54 PM
2026-09-18
$45.00
5/20/2026, 11:12:54 PM
2026-12-18
$15.00
5/20/2026, 11:12:54 PM
2027-01-15
$18.00
5/20/2026, 11:12:54 PM
2027-03-19
$45.00
5/20/2026, 11:12:54 PM
Selected expiration: 2026-06-18 at max pain $17.00.
GOLD pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
8
0
11391500
11391500
10
200
9380700
9380900
12.5
4950
6870200
6875150
13
5900
6368150
6374050
15
16500
4797550
4814050
17
27500
3466350
3493850
17.5
492900
3218650
3711550
20
2819900
1980400
4800300
22
4682900
1424600
6107500
22.5
5242200
1382100
6624300
25
8039950
1170100
9210050
27
10284350
1002500
11286850
30
13844750
758000
14602750
35
19801250
424500
20225750
40
25785250
182000
25967250
45
31839250
77000
31916250
50
38086750
24000
38110750
55
44597250
2500
44599750
60
51194250
1500
51195750
65
57816750
500
57817250
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.