This page reflects HEI 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 — HEI
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $280.00 (21.49 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$280.00
Nearest expiry
Expected Move
±$30.65
±10.2%
Days to Expiry
29
Calendar days
Total Call OI
931
Nearest expiry
Total Put OI
5,586
Nearest expiry
P/C OI Ratio
6.00
Put-heavy
Spot Price
$301.49
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
$270.00
4/17/2026, 11:15:23 PM
2026-05-15
$280.00
5/15/2026, 11:17:47 PM
2026-06-18NextUpdated
$280.00
5/20/2026, 11:15:40 PM
2026-07-17
$280.00
5/20/2026, 11:15:40 PM
2026-08-21
$280.00
5/20/2026, 11:15:40 PM
2026-11-20
$290.00
5/20/2026, 11:15:40 PM
2027-01-15
$290.00
5/20/2026, 11:15:40 PM
Selected expiration: 2026-06-18 at max pain $280.00.
HEI pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
210
0
25862000
25862000
220
0
20280000
20280000
230
0
14699000
14699000
240
0
11121000
11121000
250
0
7556000
7556000
260
4000
4827000
4831000
270
8000
2112000
2120000
280
16000
69000
85000
290
70000
35000
105000
300
144000
11000
155000
310
245000
0
245000
320
531000
0
531000
330
1406000
0
1406000
340
2300000
0
2300000
350
3198000
0
3198000
360
4108000
0
4108000
370
5032000
0
5032000
380
5958000
0
5958000
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.