This page reflects IMAX 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 — IMAX
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $37.00 (2.78 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$37.00
Nearest expiry
Expected Move
±$2.92
±8.6%
Days to Expiry
29
Calendar days
Total Call OI
4,001
Nearest expiry
Total Put OI
19,413
Nearest expiry
P/C OI Ratio
4.85
Put-heavy
Spot Price
$34.22
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
$38.00
4/17/2026, 11:16:20 PM
2026-05-15
$35.00
5/15/2026, 11:19:03 PM
2026-06-18NextUpdated
$37.00
5/20/2026, 11:16:50 PM
2026-08-21
$38.00
5/20/2026, 11:16:50 PM
2026-09-18
$32.00
5/20/2026, 11:16:50 PM
2026-12-18
$36.00
5/20/2026, 11:16:50 PM
Selected expiration: 2026-06-18 at max pain $37.00.
IMAX pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
24493700
24493700
23
300
18669800
18670100
24
600
16728500
16729100
25
1000
14787200
14788200
26
1500
12846100
12847600
27
2100
10905100
10907200
28
3300
8964100
8967400
29
4500
7026800
7031300
30
6500
5146800
5153300
31
10800
3670900
3681700
32
15200
2595300
2610500
33
20100
1921300
1941400
34
25000
1264200
1289200
35
46600
627500
674100
36
72300
218800
291100
37
152300
10800
163100
38
291700
4500
296200
39
566900
1600
568500
40
844800
0
844800
45
2382300
0
2382300
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.