This page reflects KDP 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 — KDP
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $27.00 (1.69 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$27.00
Nearest expiry
Expected Move
±$1.60
±5.6%
Days to Expiry
29
Calendar days
Total Call OI
15,232
Nearest expiry
Total Put OI
11,326
Nearest expiry
P/C OI Ratio
0.74
Put-heavy
Spot Price
$28.69
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
$27.00
4/17/2026, 11:16:39 PM
2026-05-15
$27.00
5/15/2026, 11:20:23 PM
2026-06-18NextUpdated
$27.00
5/20/2026, 11:19:57 PM
2026-07-17
$28.00
5/20/2026, 11:19:57 PM
2026-09-18
$28.00
5/20/2026, 11:19:57 PM
2026-10-16
$29.00
5/20/2026, 11:19:57 PM
2026-12-18
$28.00
5/20/2026, 11:19:57 PM
2027-01-15
$28.00
5/20/2026, 11:19:57 PM
2027-03-19
$25.00
5/20/2026, 11:19:57 PM
Selected expiration: 2026-06-18 at max pain $27.00.
KDP pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
12945300
12945300
16
0
11812800
11812800
17
0
10680400
10680400
18
0
9548200
9548200
19
0
8416400
8416400
20
0
7284700
7284700
21
1700
6153000
6154700
22
3400
5021300
5024700
23
5200
3890000
3895200
24
8500
2880500
2889000
25
11800
2171100
2182900
26
21600
1634300
1655900
27
120900
1156900
1277800
28
507500
810400
1317900
29
1098800
611700
1710500
30
1835000
491800
2326800
31
2837000
413800
3250800
32
4015100
343100
4358200
33
5288000
276200
5564200
34
6581700
209300
6791000
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.