This page reflects GSL 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 — GSL
Data as of market close May 19, 2026
Nearest listed expiration 2026-06-18 shows max pain at $38.00 (2.29 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$38.00
Nearest expiry
Expected Move
±$3.02
±7.5%
Days to Expiry
30
Calendar days
Total Call OI
4,422
Nearest expiry
Total Put OI
2,055
Nearest expiry
P/C OI Ratio
0.46
Put-heavy
Spot Price
$40.29
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
$39.00
4/17/2026, 11:13:53 PM
2026-05-15
$39.00
5/15/2026, 11:15:25 PM
2026-06-18NextUpdated
$38.00
5/19/2026, 11:14:57 PM
2026-07-17
$39.00
5/19/2026, 11:14:57 PM
2026-09-18
$37.00
5/19/2026, 11:14:57 PM
2026-12-18
$38.00
5/19/2026, 11:14:57 PM
Selected expiration: 2026-06-18 at max pain $38.00.
GSL pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
4560700
4560700
20
0
3482700
3482700
21
0
3267100
3267100
23
0
2836100
2836100
24
0
2620700
2620700
25
0
2406300
2406300
26
0
2192100
2192100
27
0
1980100
1980100
28
0
1768800
1768800
29
0
1564100
1564100
30
100
1359400
1359500
31
500
1161900
1162400
32
2000
965700
967700
33
6000
773100
779100
34
11000
591300
602300
35
38100
419000
457100
36
81400
290900
372300
37
135700
179000
314700
38
210100
86100
296200
39
302200
29400
331600
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.