This page reflects HTHT 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 — HTHT
Data as of market close May 19, 2026
Nearest listed expiration 2026-06-18 shows max pain at $50.00 (4.03 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$50.00
Nearest expiry
Expected Move
±$3.90
±8.5%
Days to Expiry
30
Calendar days
Total Call OI
576
Nearest expiry
Total Put OI
306
Nearest expiry
P/C OI Ratio
0.53
Put-heavy
Spot Price
$45.97
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
$55.00
4/17/2026, 11:18:54 PM
2026-05-15
$45.00
5/15/2026, 11:15:30 PM
2026-06-18NextUpdated
$50.00
5/19/2026, 11:18:00 PM
2026-09-18
$50.00
5/19/2026, 11:18:00 PM
2026-12-18
$55.00
5/19/2026, 11:18:00 PM
Selected expiration: 2026-06-18 at max pain $50.00.
HTHT pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
727500
727500
22.5
0
650750
650750
25
0
574000
574000
30
0
441000
441000
35
0
308000
308000
40
0
177000
177000
45
0
72000
72000
50
24000
19500
43500
55
123500
7000
130500
60
245500
0
245500
65
527500
0
527500
75
1093500
0
1093500
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.