This page reflects LION 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 — LION
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $8.00 (4.60 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$8.00
Nearest expiry
Expected Move
±$1.97
±15.7%
Days to Expiry
29
Calendar days
Total Call OI
75,021
Nearest expiry
Total Put OI
18,408
Nearest expiry
P/C OI Ratio
0.25
Put-heavy
Spot Price
$12.60
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
$10.00
4/17/2026, 11:17:01 PM
2026-05-15
$11.00
5/15/2026, 11:25:20 PM
2026-06-18NextUpdated
$8.00
5/20/2026, 11:22:34 PM
2026-09-18
$10.00
5/20/2026, 11:22:34 PM
2026-12-18
$9.00
5/20/2026, 11:22:34 PM
2027-01-15
$7.00
5/20/2026, 11:22:34 PM
Selected expiration: 2026-06-18 at max pain $8.00.
LION pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
14829600
14829600
2
1000
12988800
12989800
3
2500
11148000
11150500
4
4200
9307200
9311400
5
6200
7467000
7473200
6
9800
5627800
5637600
7
13400
3865000
3878400
8
66500
2149300
2215800
9
1430900
1646400
3077300
10
3250800
1208200
4459000
11
6147800
836000
6983800
12
9175300
505700
9681000
13
14668700
193900
14862600
14
21073000
3500
21076500
15
27852200
2500
27854700
16
35309700
1700
35311400
17
42803000
1200
42804200
18
50296300
900
50297200
19
57790500
600
57791100
20
65292400
400
65292800
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.