This page reflects MAR 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 — MAR
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $350.00 (19.75 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$350.00
Nearest expiry
Expected Move
±$3.83
±1.0%
Days to Expiry
2
Calendar days
Total Call OI
1,374
Nearest expiry
Total Put OI
1,148
Nearest expiry
P/C OI Ratio
0.84
Put-heavy
Spot Price
$369.75
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
$352.50
5/8/2026, 11:21:24 PM
2026-05-15
$350.00
5/15/2026, 11:21:54 PM
2026-05-22NextUpdated
$350.00
5/20/2026, 11:21:23 PM
2026-05-29
$360.00
5/20/2026, 11:21:23 PM
2026-06-05
$345.00
5/20/2026, 11:21:23 PM
2026-06-12
$340.00
5/20/2026, 11:21:23 PM
2026-06-18
$330.00
5/20/2026, 11:21:23 PM
2026-06-26
$340.00
5/20/2026, 11:21:23 PM
2026-07-17
$350.00
5/20/2026, 11:21:23 PM
2026-08-21
$360.00
5/20/2026, 11:21:23 PM
2026-09-18
$330.00
5/20/2026, 11:21:23 PM
2026-10-16
$350.00
5/20/2026, 11:21:23 PM
2026-12-18
$280.00
5/20/2026, 11:21:23 PM
2027-01-15
$300.00
5/20/2026, 11:21:23 PM
2027-03-19
$280.00
5/20/2026, 11:21:23 PM
Selected expiration: 2026-05-22 at max pain $350.00.
MAR pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
230
0
11619250
11619250
245
0
9900250
9900250
265
0
7610250
7610250
270
0
7038250
7038250
275
0
6467250
6467250
285
0
5326250
5326250
295
0
4186250
4186250
300
0
3616750
3616750
310
0
2501750
2501750
315
10000
1992250
2002250
317.5
15000
1741250
1756250
320
20000
1490500
1510500
325
40000
1161000
1201000
327.5
51750
996250
1048000
330
63500
841500
905000
332.5
75250
697250
772500
335
87000
597750
684750
337.5
99000
501000
600000
340
111000
408250
519250
342.5
123500
318750
442250
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.