This page reflects HPQ 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 — HPQ
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $20.50 (0.57 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$20.50
Nearest expiry
Expected Move
±$0.71
±3.4%
Days to Expiry
2
Calendar days
Total Call OI
10,623
Nearest expiry
Total Put OI
9,411
Nearest expiry
P/C OI Ratio
0.89
Put-heavy
Spot Price
$21.07
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
$20.00
5/8/2026, 11:15:33 PM
2026-05-15
$20.00
5/15/2026, 11:18:32 PM
2026-05-22NextUpdated
$20.50
5/20/2026, 11:14:11 PM
2026-05-29
$19.50
5/20/2026, 11:14:11 PM
2026-06-05
$21.00
5/20/2026, 11:14:11 PM
2026-06-12
$21.50
5/20/2026, 11:14:11 PM
2026-06-18
$22.00
5/20/2026, 11:14:11 PM
2026-06-26
$21.50
5/20/2026, 11:14:11 PM
2026-07-17
$21.00
5/20/2026, 11:14:11 PM
2026-08-21
$20.00
5/20/2026, 11:14:11 PM
2026-09-18
$21.00
5/20/2026, 11:14:11 PM
2026-11-20
$22.00
5/20/2026, 11:14:11 PM
2026-12-18
$23.00
5/20/2026, 11:14:11 PM
2027-01-15
$23.00
5/20/2026, 11:14:11 PM
2027-03-19
$20.00
5/20/2026, 11:14:11 PM
Selected expiration: 2026-05-22 at max pain $20.50.
HPQ pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
13
0
5590000
5590000
14
200
4650600
4650800
14.5
300
4181250
4181550
15
400
3713000
3713400
15.5
1200
3245100
3246300
16
2650
2781450
2784100
16.5
5850
2343050
2348900
17
9200
1909500
1918700
17.5
13150
1478150
1491300
18
17150
1158350
1175500
18.5
21800
846150
867950
19
26650
578500
605150
19.5
35350
366650
402000
20
47700
192850
240550
20.5
95300
77100
172400
21
160150
32850
193000
21.5
277850
15800
293650
22
452900
6550
459450
22.5
684350
2500
686850
23
1090050
650
1090700
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.