This page reflects HSBC options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 19, 2026 close
Max Pain — HSBC
Data as of market close May 19, 2026
Nearest listed expiration 2026-05-22 shows max pain at $90.00 (1.53 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$90.00
Nearest expiry
Expected Move
±$0.80
±0.9%
Days to Expiry
3
Calendar days
Total Call OI
322
Nearest expiry
Total Put OI
179
Nearest expiry
P/C OI Ratio
0.56
Put-heavy
Spot Price
$88.47
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
$89.00
5/8/2026, 11:17:57 PM
2026-05-15
$91.00
5/15/2026, 11:19:04 PM
2026-05-22NextUpdated
$90.00
5/19/2026, 11:15:59 PM
2026-05-29
$88.00
5/19/2026, 11:15:59 PM
2026-06-05
$85.00
5/19/2026, 11:15:59 PM
2026-06-12
$84.00
5/19/2026, 11:15:59 PM
2026-06-18
$80.00
5/19/2026, 11:15:59 PM
2026-06-26
$89.00
5/19/2026, 11:15:59 PM
2026-07-17
$85.00
5/19/2026, 11:15:59 PM
2026-09-18
$85.00
5/19/2026, 11:15:59 PM
2026-12-18
$80.00
5/19/2026, 11:15:59 PM
2027-01-15
$80.00
5/19/2026, 11:15:59 PM
2027-03-19
$85.00
5/19/2026, 11:15:59 PM
Selected expiration: 2026-05-22 at max pain $90.00.
HSBC pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
73
0
430300
430300
74
0
400100
400100
75
0
370100
370100
80
0
226100
226100
82
0
169700
169700
84
0
113900
113900
85
0
86400
86400
86
0
60100
60100
87
0
39700
39700
88
200
19900
20100
89
400
3200
3600
90
600
1500
2100
91
16300
200
16500
92
37000
0
37000
93
62200
0
62200
94
88700
0
88700
95
119900
0
119900
96
151400
0
151400
97
183500
0
183500
100
280100
0
280100
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.