This page reflects LMT 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 — LMT
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $510.00 (12.59 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$510.00
Nearest expiry
Expected Move
±$5.50
±1.1%
Days to Expiry
2
Calendar days
Total Call OI
3,881
Nearest expiry
Total Put OI
2,505
Nearest expiry
P/C OI Ratio
0.65
Put-heavy
Spot Price
$522.59
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
$502.50
5/8/2026, 11:19:40 PM
2026-05-15
$510.00
5/15/2026, 11:25:53 PM
2026-05-22NextUpdated
$510.00
5/20/2026, 11:21:53 PM
2026-05-29
$520.00
5/20/2026, 11:21:53 PM
2026-06-05
$515.00
5/20/2026, 11:21:53 PM
2026-06-12
$535.00
5/20/2026, 11:21:53 PM
2026-06-18
$535.00
5/20/2026, 11:21:53 PM
2026-06-26
$510.00
5/20/2026, 11:21:53 PM
2026-07-17
$510.00
5/20/2026, 11:21:53 PM
2026-09-18
$550.00
5/20/2026, 11:21:53 PM
2026-11-20
$505.00
5/20/2026, 11:21:53 PM
2026-12-18
$510.00
5/20/2026, 11:21:53 PM
2027-01-15
$500.00
5/20/2026, 11:21:53 PM
2027-03-19
$510.00
5/20/2026, 11:21:53 PM
Selected expiration: 2026-05-22 at max pain $510.00.
LMT pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
315
0
43761250
43761250
320
30000
42508750
42538750
365
466500
31236250
31702750
395
757500
23721250
24478750
400
806000
22469250
23275250
410
903000
19979250
20882250
415
951500
18734750
19686250
420
1025500
17510750
18536250
425
1114000
16286750
17400750
430
1202500
15075250
16277750
435
1291000
13873750
15164750
440
1379500
12676250
14055750
445
1468000
11481250
12949250
450
1556500
10290750
11847250
452.5
1600750
9701000
11301750
455
1645000
9114000
10759000
457.5
1689250
8541500
10230750
460
1733500
7972000
9705500
462.5
1777750
7407000
9184750
465
1822000
6846750
8668750
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.