This page reflects LAES 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 — LAES
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $2.50 (0.35 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$2.50
Nearest expiry
Expected Move
±$0.26
±9.1%
Days to Expiry
2
Calendar days
Total Call OI
18,773
Nearest expiry
Total Put OI
2,028
Nearest expiry
P/C OI Ratio
0.11
Put-heavy
Spot Price
$2.85
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
$3.00
5/8/2026, 11:18:50 PM
2026-05-15
$2.50
5/15/2026, 11:21:46 PM
2026-05-22NextUpdated
$2.50
5/20/2026, 11:22:00 PM
2026-05-29
$3.00
5/20/2026, 11:22:00 PM
2026-06-05
$1.50
5/20/2026, 11:22:00 PM
2026-06-12
$0.50
5/20/2026, 11:22:00 PM
2026-06-18
$3.00
5/20/2026, 11:22:00 PM
2026-06-26
$0.50
5/20/2026, 11:22:00 PM
2026-07-17
$2.50
5/20/2026, 11:22:00 PM
2026-08-21
$2.50
5/20/2026, 11:22:00 PM
2026-09-18
$2.50
5/20/2026, 11:22:00 PM
2026-10-16
$2.50
5/20/2026, 11:22:00 PM
2026-11-20
$3.50
5/20/2026, 11:22:00 PM
2026-12-18
$3.00
5/20/2026, 11:22:00 PM
2027-01-15
$3.00
5/20/2026, 11:22:00 PM
Selected expiration: 2026-05-22 at max pain $2.50.
LAES pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
462150
462150
1
550
362000
362550
1.5
1550
261850
263400
2
3900
161700
165600
2.5
6450
63350
69800
3
185000
7900
192900
3.5
845000
5400
850400
4
1741900
3150
1745050
4.5
2680500
1450
2681950
5
3619150
300
3619450
5.5
4557800
100
4557900
6
5496450
0
5496450
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.