This page reflects LZ 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 — LZ
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $6.00 (0.43 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$6.00
Nearest expiry
Expected Move
±$0.95
±14.8%
Days to Expiry
29
Calendar days
Total Call OI
14,365
Nearest expiry
Total Put OI
4,044
Nearest expiry
P/C OI Ratio
0.28
Put-heavy
Spot Price
$6.43
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
$7.00
4/17/2026, 11:17:35 PM
2026-05-15
$6.00
5/15/2026, 11:23:38 PM
2026-06-18NextUpdated
$6.00
5/20/2026, 11:22:32 PM
2026-09-18
$6.00
5/20/2026, 11:22:32 PM
2026-12-18
$6.00
5/20/2026, 11:22:32 PM
2027-01-15
$7.00
5/20/2026, 11:22:32 PM
Selected expiration: 2026-06-18 at max pain $6.00.
LZ pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
2
0
1924300
1924300
3
100
1520300
1520400
4
900
1116300
1117200
5
1800
713300
715100
6
2700
334600
337300
7
951800
167600
1119400
8
2224500
2000
2226500
9
3591400
1600
3593000
10
4981500
1200
4982700
11
6374000
800
6374800
12
7778100
400
7778500
13
9182200
0
9182200
14
10586500
0
10586500
15
11991000
0
11991000
16
13406700
0
13406700
17
14822800
0
14822800
18
16259200
0
16259200
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.