This page reflects KALU 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 — KALU
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $105.00 (63.95 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$105.00
Nearest expiry
Expected Move
±$16.40
±9.7%
Days to Expiry
29
Calendar days
Total Call OI
1,424
Nearest expiry
Total Put OI
130
Nearest expiry
P/C OI Ratio
0.09
Put-heavy
Spot Price
$168.95
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
$120.00
4/17/2026, 11:18:33 PM
2026-05-15
$140.00
5/15/2026, 11:21:37 PM
2026-06-18NextUpdated
$105.00
5/20/2026, 11:15:49 PM
2026-09-18
$155.00
5/20/2026, 11:15:49 PM
2026-11-20
$110.00
5/20/2026, 11:15:49 PM
2026-12-18
$125.00
5/20/2026, 11:15:49 PM
Selected expiration: 2026-06-18 at max pain $105.00.
KALU pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
889500
889500
50
0
760500
760500
65
1500
567000
568500
70
2000
502500
504500
80
3000
375500
378500
90
4000
253500
257500
95
4500
230000
234500
100
10000
206500
216500
105
21000
183000
204000
110
203500
159500
363000
115
386000
136000
522000
120
571500
113000
684500
125
758000
93500
851500
130
945000
74500
1019500
135
1139000
57500
1196500
140
1344500
42500
1387000
145
1563500
32000
1595500
150
2193500
21500
2215000
155
2839500
13500
2853000
160
3511000
7000
3518000
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.