This page reflects KWR 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 — KWR
Data as of market close May 20, 2026
Nearest listed expiration 2026-07-17 shows max pain at $130.00 (10.30 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$130.00
Nearest expiry
Expected Move
±$7.95
±5.7%
Days to Expiry
58
Calendar days
Total Call OI
269
Nearest expiry
Total Put OI
45
Nearest expiry
P/C OI Ratio
0.17
Put-heavy
Spot Price
$140.30
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-07-17
Expiration
Max Pain Strike
Last Updated
2026-04-17
$125.00
4/17/2026, 11:18:19 PM
2026-05-15
$130.00
5/15/2026, 11:21:27 PM
2026-07-17NextUpdated
$130.00
5/20/2026, 11:17:54 PM
2026-10-16
$140.00
5/20/2026, 11:17:54 PM
Selected expiration: 2026-07-17 at max pain $130.00.
KWR pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
105
0
73000
73000
110
0
53000
53000
120
0
26000
26000
125
0
12500
12500
130
0
0
0
135
3000
0
3000
140
6000
0
6000
145
33000
0
33000
150
67500
0
67500
155
159500
0
159500
160
258000
0
258000
165
375000
0
375000
170
493000
0
493000
180
730000
0
730000
185
864000
0
864000
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.