This page reflects MAC 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 — MAC
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $20.00 (2.43 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
±$1.65
±7.4%
Days to Expiry
29
Calendar days
Total Call OI
2,032
Nearest expiry
Total Put OI
2,074
Nearest expiry
P/C OI Ratio
1.02
Put-heavy
Spot Price
$22.43
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
$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
5/20/2026, 11:20:58 PM
2026-09-18
$19.00
5/20/2026, 11:20:58 PM
2026-12-18
$20.00
5/20/2026, 11:20:58 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
2353300
2353300
12
0
901500
901500
13
0
765100
765100
14
5900
628700
634600
15
11800
492300
504100
16
18000
358000
376000
17
24300
253900
278200
18
37900
169500
207400
19
63600
86300
149900
20
111200
6200
117400
21
203600
2600
206200
22
323400
1100
324500
23
485500
700
486200
24
673300
300
673600
25
871300
200
871500
26
1073000
100
1073100
27
1275900
0
1275900
28
1478800
0
1478800
29
1681800
0
1681800
30
1884800
0
1884800
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.