Nearest listed expiration 2026-05-22 shows max pain at $79.50 (0.15 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$79.50
Nearest expiry
Expected Move
±$0.23
±0.3%
Days to Expiry
3
Calendar days
Total Call OI
23,191
Nearest expiry
Total Put OI
20,576
Nearest expiry
P/C OI Ratio
0.89
Put-heavy
Spot Price
$79.35
Published close
Consensus
8.0/10
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
$80.00
5/8/2026, 11:16:11 PM
2026-05-15
$80.00
5/15/2026, 11:19:16 PM
2026-05-22NextUpdated
$79.50
5/19/2026, 11:16:38 PM
2026-05-29
$79.50
5/19/2026, 11:16:38 PM
2026-06-05
$80.00
5/19/2026, 11:16:38 PM
2026-06-12
$79.50
5/19/2026, 11:16:38 PM
2026-06-18
$80.00
5/19/2026, 11:16:38 PM
2026-06-26
$80.00
5/19/2026, 11:16:38 PM
2026-07-17
$80.00
5/19/2026, 11:16:38 PM
2026-08-21
$79.00
5/19/2026, 11:16:38 PM
2026-09-18
$80.00
5/19/2026, 11:16:38 PM
2026-10-16
$84.00
5/19/2026, 11:16:38 PM
2026-11-20
$79.00
5/19/2026, 11:16:38 PM
2026-12-18
$80.00
5/19/2026, 11:16:38 PM
2027-01-15
$80.00
5/19/2026, 11:16:38 PM
2027-02-19
$93.00
5/19/2026, 11:16:38 PM
2027-03-19
$110.00
5/19/2026, 11:16:38 PM
2027-04-16
$80.00
5/19/2026, 11:16:38 PM
Selected expiration: 2026-05-22 at max pain $79.50.
HYG pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
70
0
19215650
19215650
74
0
10985250
10985250
74.5
50
9956450
9956500
75
100
8927650
8927750
76
200
6870050
6870250
76.5
250
5841250
5841500
77
300
4812700
4813000
77.5
350
3786800
3787150
78
400
2761050
2761450
78.5
550
1836000
1836550
79
800
933950
934750
79.5
20650
141000
161650
80
474300
1600
475900
80.5
1612400
600
1613000
81
2762400
0
2762400
81.5
3917300
0
3917300
82.5
6227200
0
6227200
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.