This page reflects HLI 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 — HLI
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $150.00 (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
$150.00
Nearest expiry
Expected Move
±$10.85
±7.3%
Days to Expiry
29
Calendar days
Total Call OI
134
Nearest expiry
Total Put OI
27
Nearest expiry
P/C OI Ratio
0.20
Put-heavy
Spot Price
$149.66
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
$145.00
4/17/2026, 11:14:26 PM
2026-05-15
$150.00
5/15/2026, 11:19:25 PM
2026-06-18NextUpdated
$150.00
5/20/2026, 11:15:58 PM
2026-07-17
$130.00
5/20/2026, 11:15:58 PM
2026-09-18
$150.00
5/20/2026, 11:15:58 PM
2026-12-18
$110.00
5/20/2026, 11:15:58 PM
Selected expiration: 2026-06-18 at max pain $150.00.
HLI pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
100
0
119500
119500
105
0
106000
106000
110
0
92500
92500
115
0
79000
79000
120
0
65500
65500
125
0
54000
54000
130
0
43500
43500
135
0
35000
35000
140
0
26500
26500
145
2000
20500
22500
150
4000
16000
20000
155
13000
13000
26000
160
25000
11500
36500
165
39000
10000
49000
170
57000
8500
65500
175
77000
7000
84000
180
97500
5500
103000
185
122500
4000
126500
190
153500
2500
156000
195
195500
1000
196500
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.