This page reflects HOG options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 21, 2026 close
Max Pain — HOG
Data as of market close May 21, 2026
Nearest listed expiration 2026-05-22 shows max pain at $23.00 (0.20 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$23.00
Nearest expiry
Expected Move
±$0.60
±2.6%
Days to Expiry
1
Calendar days
Total Call OI
924
Nearest expiry
Total Put OI
469
Nearest expiry
P/C OI Ratio
0.51
Put-heavy
Spot Price
$23.20
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
$23.50
5/8/2026, 11:17:53 PM
2026-05-15
$24.00
5/15/2026, 11:18:55 PM
2026-05-22NextUpdated
$23.00
5/21/2026, 11:14:25 PM
2026-05-29
$15.00
5/21/2026, 11:14:25 PM
2026-06-05
$23.00
5/21/2026, 11:14:25 PM
2026-06-12
$22.00
5/21/2026, 11:14:25 PM
2026-06-18
$23.00
5/21/2026, 11:14:25 PM
2026-06-26
$24.00
5/21/2026, 11:14:25 PM
2026-07-17
$25.00
5/21/2026, 11:14:25 PM
2026-08-21
$20.00
5/21/2026, 11:14:25 PM
2026-11-20
$24.00
5/21/2026, 11:14:25 PM
2027-01-15
$23.00
5/21/2026, 11:14:25 PM
Selected expiration: 2026-05-22 at max pain $23.00.
HOG pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
11
0
539500
539500
13
600
445700
446300
14
3400
398800
402200
15
6500
351900
358400
17
13100
258100
271200
17.5
15100
235250
250350
18
17100
212550
229650
18.5
19900
190000
209900
19
22700
167500
190200
20
31400
122800
154200
21
42900
80300
123200
21.5
50600
63750
114350
22
58300
47500
105800
22.5
67550
34000
101550
23
76950
20550
97500
23.5
91850
13200
105050
24
106950
7450
114400
24.5
124500
4700
129200
25
142300
2600
144900
25.5
170300
1900
172200
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.