This page reflects KMX 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 — KMX
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $37.50 (0.17 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$37.50
Nearest expiry
Expected Move
±$5.78
±15.5%
Days to Expiry
29
Calendar days
Total Call OI
4,389
Nearest expiry
Total Put OI
3,768
Nearest expiry
P/C OI Ratio
0.86
Put-heavy
Spot Price
$37.33
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
$42.50
4/17/2026, 11:18:51 PM
2026-05-15
$40.00
5/15/2026, 11:21:12 PM
2026-06-18NextUpdated
$37.50
5/20/2026, 11:19:40 PM
2026-07-17
$42.50
5/20/2026, 11:19:40 PM
2026-09-18
$42.50
5/20/2026, 11:19:40 PM
2026-10-16
$42.50
5/20/2026, 11:19:40 PM
2027-01-15
$35.00
5/20/2026, 11:19:40 PM
Selected expiration: 2026-06-18 at max pain $37.50.
KMX pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
3720500
3720500
27.5
0
2780750
2780750
30
0
1853000
1853000
32.5
500
1008250
1008750
35
3000
451750
454750
37.5
5750
165500
171250
40
403750
80000
483750
42.5
848250
33250
881500
45
1358750
9000
1367750
47.5
1989750
3750
1993500
50
3025000
0
3025000
55
5193500
0
5193500
60
7384500
0
7384500
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.