This page reflects LOW 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 — LOW
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $220.00 (1.05 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$220.00
Nearest expiry
Expected Move
±$5.55
±2.5%
Days to Expiry
2
Calendar days
Total Call OI
5,851
Nearest expiry
Total Put OI
7,404
Nearest expiry
P/C OI Ratio
1.27
Put-heavy
Spot Price
$221.05
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
$230.00
5/8/2026, 11:18:17 PM
2026-05-15
$230.00
5/15/2026, 11:23:07 PM
2026-05-22NextUpdated
$220.00
5/20/2026, 11:19:23 PM
2026-05-29
$222.50
5/20/2026, 11:19:23 PM
2026-06-05
$220.00
5/20/2026, 11:19:23 PM
2026-06-12
$230.00
5/20/2026, 11:19:23 PM
2026-06-18
$240.00
5/20/2026, 11:19:23 PM
2026-06-26
$230.00
5/20/2026, 11:19:23 PM
2026-07-17
$240.00
5/20/2026, 11:19:23 PM
2026-09-18
$250.00
5/20/2026, 11:19:23 PM
2026-10-16
$240.00
5/20/2026, 11:19:23 PM
2026-12-18
$250.00
5/20/2026, 11:19:23 PM
2027-01-15
$250.00
5/20/2026, 11:19:23 PM
2027-03-19
$240.00
5/20/2026, 11:19:23 PM
Selected expiration: 2026-05-22 at max pain $220.00.
LOW pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
145
0
47562750
47562750
150
0
43861250
43861250
170
0
29149250
29149250
175
1000
25481250
25482250
180
3000
21813250
21816250
185
6000
18247250
18253250
190
9000
14697250
14706250
195
12500
11232750
11245250
197.5
14250
9574000
9588250
200
16250
7971500
7987750
202.5
20000
6654500
6674500
205
24500
5421250
5445750
207.5
30000
4436750
4466750
210
41000
3539000
3580000
212.5
53750
2754500
2808250
215
70500
2020500
2091000
217.5
92500
1355000
1447500
220
157000
979750
1136750
222.5
516000
780750
1296750
225
929500
587500
1517000
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.