This page reflects LTM 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 — LTM
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $50.00 (0.37 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$50.00
Nearest expiry
Expected Move
±$6.03
±12.0%
Days to Expiry
29
Calendar days
Total Call OI
1,626
Nearest expiry
Total Put OI
1,729
Nearest expiry
P/C OI Ratio
1.06
Put-heavy
Spot Price
$50.37
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
$50.00
4/17/2026, 11:20:00 PM
2026-05-15
$45.00
5/15/2026, 11:24:33 PM
2026-06-18NextUpdated
$50.00
5/20/2026, 11:18:27 PM
2026-07-17
$40.00
5/20/2026, 11:18:27 PM
2026-09-18
$55.00
5/20/2026, 11:18:27 PM
2026-11-20
$60.00
5/20/2026, 11:18:27 PM
2026-12-18
$55.00
5/20/2026, 11:18:27 PM
Selected expiration: 2026-06-18 at max pain $50.00.
LTM pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
22.5
0
4673250
4673250
25
0
4241000
4241000
30
10000
3376500
3386500
35
23000
2512500
2535500
40
50000
1650500
1700500
45
78000
791500
869500
50
136000
373500
509500
55
435000
95000
530000
60
868500
1000
869500
65
1488000
0
1488000
70
2272500
0
2272500
75
3059500
0
3059500
80
3846500
0
3846500
85
4653500
0
4653500
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.