This page reflects HQY 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 — HQY
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $80.00 (7.55 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$80.00
Nearest expiry
Expected Move
±$9.73
±11.1%
Days to Expiry
29
Calendar days
Total Call OI
1,078
Nearest expiry
Total Put OI
1,017
Nearest expiry
P/C OI Ratio
0.94
Put-heavy
Spot Price
$87.55
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
$80.00
4/17/2026, 11:14:25 PM
2026-05-15
$80.00
5/15/2026, 11:15:16 PM
2026-06-18NextUpdated
$80.00
5/20/2026, 11:15:22 PM
2026-09-18
$80.00
5/20/2026, 11:15:22 PM
2026-12-18
$70.00
5/20/2026, 11:15:22 PM
Selected expiration: 2026-06-18 at max pain $80.00.
HQY pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
2855000
2855000
55
1000
2379000
2380000
60
2000
1903000
1905000
65
3000
1427500
1430500
70
4000
957500
961500
75
7500
503500
511000
80
11000
65500
76500
85
82500
33500
116000
90
224500
2500
227000
95
552500
0
552500
100
940500
0
940500
105
1401500
0
1401500
110
1881000
0
1881000
115
2386500
0
2386500
120
2894500
0
2894500
125
3408000
0
3408000
130
3934500
0
3934500
135
4463500
0
4463500
140
4995500
0
4995500
145
5531500
0
5531500
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.