This page reflects HOG 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 — HOG
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $23.00 (0.85 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
±$0.75
±3.1%
Days to Expiry
2
Calendar days
Total Call OI
890
Nearest expiry
Total Put OI
459
Nearest expiry
P/C OI Ratio
0.52
Put-heavy
Spot Price
$23.85
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
5/20/2026, 11:16:54 PM
2026-05-29
$15.00
5/20/2026, 11:16:54 PM
2026-06-05
$23.00
5/20/2026, 11:16:54 PM
2026-06-12
$23.00
5/20/2026, 11:16:54 PM
2026-06-18
$24.00
5/20/2026, 11:16:54 PM
2026-06-26
$24.00
5/20/2026, 11:16:54 PM
2026-07-17
$25.00
5/20/2026, 11:16:54 PM
2026-08-21
$20.00
5/20/2026, 11:16:54 PM
2026-11-20
$24.00
5/20/2026, 11:16:54 PM
2027-01-15
$23.00
5/20/2026, 11:16:54 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
526450
526450
13
600
434650
435250
14
1200
388750
389950
15
2100
342850
344950
17
4300
251050
255350
17.5
5200
228700
233900
18
6100
206500
212600
18.5
7700
184450
192150
19
9300
162450
171750
20
15600
118750
134350
21
22800
77450
100250
21.5
28300
61500
89800
22
33800
45850
79650
22.5
40800
32950
73750
23
47950
20100
68050
23.5
60600
12900
73500
24
73350
7250
80600
24.5
88500
4550
93050
25
103850
2500
106350
25.5
129650
1850
131500
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.