This page reflects HAL 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 — HAL
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $40.00 (2.30 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
±$1.25
±3.0%
Days to Expiry
2
Calendar days
Total Call OI
5,582
Nearest expiry
Total Put OI
4,785
Nearest expiry
P/C OI Ratio
0.86
Put-heavy
Spot Price
$42.30
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-22
Expiration
Max Pain Strike
Last Updated
2026-05-08
$39.00
5/8/2026, 11:15:26 PM
2026-05-15
$38.00
5/15/2026, 11:15:31 PM
2026-05-22NextUpdated
$40.00
5/20/2026, 11:15:40 PM
2026-05-29
$40.50
5/20/2026, 11:15:40 PM
2026-06-05
$40.00
5/20/2026, 11:15:40 PM
2026-06-12
$40.00
5/20/2026, 11:15:40 PM
2026-06-18
$35.00
5/20/2026, 11:15:40 PM
2026-06-26
$38.00
5/20/2026, 11:15:40 PM
2026-07-17
$38.00
5/20/2026, 11:15:40 PM
2026-08-21
$40.00
5/20/2026, 11:15:40 PM
2026-09-18
$35.00
5/20/2026, 11:15:40 PM
2026-10-16
$42.00
5/20/2026, 11:15:40 PM
2026-12-18
$35.00
5/20/2026, 11:15:40 PM
2027-01-15
$32.00
5/20/2026, 11:15:40 PM
2027-03-19
$35.00
5/20/2026, 11:15:40 PM
Selected expiration: 2026-05-22 at max pain $40.00.
HAL pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
6692700
6692700
28
0
5257200
5257200
30
1600
4300200
4301800
31
3000
3821700
3824700
32
5000
3350200
3355200
33
7300
2879300
2886600
34
10900
2410900
2421800
34.5
12850
2179000
2191850
35
14800
1947150
1961950
35.5
16800
1719100
1735900
36
18800
1500300
1519100
36.5
22750
1305300
1328050
37
26700
1110550
1137250
37.5
33200
923000
956200
38
39700
749600
789300
38.5
60900
589650
650550
39
96600
432200
528800
39.5
135900
306200
442100
40
177750
216000
393750
40.5
254900
141350
396250
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.