This page reflects KEYS 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 — KEYS
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $330.00 (12.08 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$330.00
Nearest expiry
Expected Move
±$37.95
±11.1%
Days to Expiry
29
Calendar days
Total Call OI
8,348
Nearest expiry
Total Put OI
5,036
Nearest expiry
P/C OI Ratio
0.60
Put-heavy
Spot Price
$342.08
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
$310.00
4/17/2026, 11:16:21 PM
2026-05-15
$340.00
5/15/2026, 11:22:28 PM
2026-06-18NextUpdated
$330.00
5/20/2026, 11:14:24 PM
2026-07-17
$360.00
5/20/2026, 11:14:24 PM
2026-08-21
$290.00
5/20/2026, 11:14:24 PM
2026-09-18
$310.00
5/20/2026, 11:14:24 PM
2026-11-20
$340.00
5/20/2026, 11:14:24 PM
2026-12-18
$280.00
5/20/2026, 11:14:24 PM
Selected expiration: 2026-06-18 at max pain $330.00.
KEYS pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
85
0
101278500
101278500
90
10000
98762000
98772000
95
26500
96246500
96273000
100
43000
93731000
93774000
105
59500
91215500
91275000
110
76000
88700500
88776500
120
109000
83670500
83779500
125
125500
81155500
81281000
130
145500
78657000
78802500
135
165500
76160500
76326000
140
185500
73664500
73850000
145
206000
71200500
71406500
150
226500
68736500
68963000
155
247000
66287500
66534500
160
270000
63838500
64108500
165
293500
61396000
61689500
170
327500
58953500
59281000
175
368000
56535500
56903500
180
410000
54129500
54539500
185
452000
51733000
52185000
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.