This page reflects LAZ 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 — LAZ
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $45.00 (2.20 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$45.00
Nearest expiry
Expected Move
±$5.15
±10.9%
Days to Expiry
29
Calendar days
Total Call OI
17,164
Nearest expiry
Total Put OI
1,570
Nearest expiry
P/C OI Ratio
0.09
Put-heavy
Spot Price
$47.20
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
$42.00
4/17/2026, 11:17:05 PM
2026-05-15
$46.00
5/15/2026, 11:17:42 PM
2026-06-18NextUpdated
$45.00
5/20/2026, 11:22:11 PM
2026-07-17
$45.00
5/20/2026, 11:22:11 PM
2026-09-18
$45.00
5/20/2026, 11:22:11 PM
2026-12-18
$45.00
5/20/2026, 11:22:11 PM
Selected expiration: 2026-06-18 at max pain $45.00.
LAZ pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
2834700
2834700
30
0
2049700
2049700
35
0
1288700
1288700
40
0
591200
591200
42
200
354000
354200
43
300
251400
251700
44
600
169800
170400
45
1400
118900
120300
46
275000
92500
367500
47
554400
67100
621500
48
1432900
47600
1480500
49
2320600
29600
2350200
50
3214600
14000
3228600
55
11278100
0
11278100
60
19448100
0
19448100
65
27894600
0
27894600
70
36398100
0
36398100
75
44902600
0
44902600
80
53484600
0
53484600
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.