This page reflects LVS 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 — LVS
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $51.00 (1.38 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$51.00
Nearest expiry
Expected Move
±$1.29
±2.6%
Days to Expiry
2
Calendar days
Total Call OI
3,839
Nearest expiry
Total Put OI
4,695
Nearest expiry
P/C OI Ratio
1.22
Put-heavy
Spot Price
$49.62
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
$54.00
5/8/2026, 11:20:43 PM
2026-05-15
$52.50
5/15/2026, 11:20:08 PM
2026-05-22NextUpdated
$51.00
5/20/2026, 11:20:49 PM
2026-05-29
$52.00
5/20/2026, 11:20:49 PM
2026-06-05
$51.00
5/20/2026, 11:20:49 PM
2026-06-12
$53.00
5/20/2026, 11:20:49 PM
2026-06-18
$50.00
5/20/2026, 11:20:49 PM
2026-06-26
$51.00
5/20/2026, 11:20:49 PM
2026-07-17
$52.50
5/20/2026, 11:20:49 PM
2026-08-21
$47.50
5/20/2026, 11:20:49 PM
2026-09-18
$50.00
5/20/2026, 11:20:49 PM
2026-12-18
$50.00
5/20/2026, 11:20:49 PM
2027-01-15
$45.00
5/20/2026, 11:20:49 PM
2027-03-19
$47.50
5/20/2026, 11:20:49 PM
Selected expiration: 2026-05-22 at max pain $51.00.
LVS pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
26
0
10872500
10872500
28
400
9933500
9933900
29
800
9464000
9464800
36
5000
6177500
6182500
40
7400
4299500
4306900
42.5
9650
3126500
3136150
45
11900
1956000
1967900
45.5
12350
1722300
1734650
46
13500
1488600
1502100
46.5
25000
1293100
1318100
47
37200
1097600
1134800
47.5
59450
904550
964000
48
81700
711550
793250
48.5
104600
520700
625300
49
127500
414950
542450
49.5
150600
314750
465350
50
174050
218800
392850
51
273450
81500
354950
52
502650
44700
547350
53
764450
23600
788050
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.