This page reflects MAC options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 21, 2026 close
Max Pain — MAC
Data as of market close May 21, 2026
Nearest listed expiration 2026-06-18 shows max pain at $20.00 (2.37 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$20.00
Nearest expiry
Expected Move
±$1.60
±7.2%
Days to Expiry
28
Calendar days
Total Call OI
1,979
Nearest expiry
Total Put OI
2,082
Nearest expiry
P/C OI Ratio
1.05
Put-heavy
Spot Price
$22.37
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
$19.00
4/17/2026, 11:18:41 PM
2026-05-15
$19.00
5/15/2026, 11:21:55 PM
2026-06-18NextUpdated
$20.00
5/21/2026, 11:21:59 PM
2026-09-18
$19.00
5/21/2026, 11:21:59 PM
2026-12-18
$20.00
5/21/2026, 11:21:59 PM
Selected expiration: 2026-06-18 at max pain $20.00.
MAC pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
2366200
2366200
12
700
908800
909500
13
800
771600
772400
14
6800
634400
641200
15
12800
497200
510000
16
19100
362200
381300
17
25500
257400
282900
18
39200
172300
211500
19
64900
88400
153300
20
110700
7600
118300
21
196300
3300
199600
22
309300
1100
310400
23
465200
700
465900
24
647600
300
647900
25
840200
200
840400
26
1036600
100
1036700
27
1234200
0
1234200
28
1431800
0
1431800
29
1629500
0
1629500
30
1827200
0
1827200
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.