This page reflects KMI 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 — KMI
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $32.50 (1.09 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$32.50
Nearest expiry
Expected Move
±$0.62
±1.9%
Days to Expiry
2
Calendar days
Total Call OI
12,669
Nearest expiry
Total Put OI
2,576
Nearest expiry
P/C OI Ratio
0.20
Put-heavy
Spot Price
$33.59
Published close
Consensus
-
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
$32.50
5/8/2026, 11:20:15 PM
2026-05-15
$32.00
5/15/2026, 11:21:05 PM
2026-05-22NextUpdated
$32.50
5/20/2026, 11:18:28 PM
2026-05-29
$32.00
5/20/2026, 11:18:28 PM
2026-06-05
$33.00
5/20/2026, 11:18:28 PM
2026-06-12
$33.00
5/20/2026, 11:18:28 PM
2026-06-18
$31.00
5/20/2026, 11:18:28 PM
2026-06-26
$34.00
5/20/2026, 11:18:28 PM
2026-07-17
$33.00
5/20/2026, 11:18:28 PM
2026-09-18
$30.00
5/20/2026, 11:18:28 PM
2026-12-18
$30.00
5/20/2026, 11:18:28 PM
2027-01-15
$27.00
5/20/2026, 11:18:28 PM
2027-03-19
$32.00
5/20/2026, 11:18:28 PM
Selected expiration: 2026-05-22 at max pain $32.50.
KMI pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
2988850
2988850
22
200
2473850
2474050
24
1000
1958850
1959850
25
1600
1701350
1702950
27
3200
1186350
1189550
28
4000
929550
933550
28.5
4400
803000
807400
29
4800
676500
681300
30
5600
448800
454400
30.5
6200
347800
354000
31
7100
247750
254850
31.5
14450
177100
191550
32
23050
112650
135700
32.5
51850
64000
115850
33
107700
30850
138550
33.5
261000
11850
272850
34
432400
3900
436300
34.5
787000
400
787400
35
1181850
0
1181850
35.5
1789000
0
1789000
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.