This page reflects KOD 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 — KOD
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $30.00 (6.22 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$30.00
Nearest expiry
Expected Move
±$6.57
±18.1%
Days to Expiry
29
Calendar days
Total Call OI
2,534
Nearest expiry
Total Put OI
282
Nearest expiry
P/C OI Ratio
0.11
Put-heavy
Spot Price
$36.22
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
$34.00
4/17/2026, 11:16:24 PM
2026-05-15
$42.00
5/15/2026, 11:23:51 PM
2026-06-18NextUpdated
$30.00
5/20/2026, 11:21:41 PM
2026-07-17
$30.00
5/20/2026, 11:21:41 PM
2026-09-18
$20.00
5/20/2026, 11:21:41 PM
2026-10-16
$28.00
5/20/2026, 11:21:41 PM
2026-12-18
$32.00
5/20/2026, 11:21:41 PM
2027-01-15
$40.00
5/20/2026, 11:21:41 PM
Selected expiration: 2026-06-18 at max pain $30.00.
KOD pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
4
0
907000
907000
8
400
794200
794600
9
500
766000
766500
10
700
737800
738500
14
3500
625000
628500
15
4300
596900
601200
16
5100
568800
573900
17
6000
541000
547000
18
6900
513200
520100
19
8000
485600
493600
20
9100
458000
467100
21
10700
430400
441100
22
12300
402800
415100
23
13900
375200
389100
24
15500
347600
363100
25
17300
320000
337300
26
22500
294600
317100
27
27700
269300
297000
28
52000
244000
296000
29
76300
218700
295000
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.