This page reflects HCC 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 — HCC
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $85.00 (0.34 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$85.00
Nearest expiry
Expected Move
±$8.70
±10.3%
Days to Expiry
29
Calendar days
Total Call OI
141
Nearest expiry
Total Put OI
356
Nearest expiry
P/C OI Ratio
2.52
Put-heavy
Spot Price
$84.66
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
$80.00
4/17/2026, 11:14:02 PM
2026-05-15
$80.00
5/15/2026, 11:15:22 PM
2026-06-18NextUpdated
$85.00
5/20/2026, 11:12:42 PM
2026-07-17
$85.00
5/20/2026, 11:12:42 PM
2026-09-18
$75.00
5/20/2026, 11:12:42 PM
2026-10-16
$85.00
5/20/2026, 11:12:42 PM
Selected expiration: 2026-06-18 at max pain $85.00.
HCC pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
961500
961500
60
0
611500
611500
65
0
437500
437500
70
0
272500
272500
75
0
131000
131000
80
0
35500
35500
85
5000
11000
16000
90
27000
500
27500
95
61500
0
61500
100
112000
0
112000
105
176000
0
176000
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.