This page reflects MCD 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 — MCD
Data as of market close May 21, 2026
Nearest listed expiration 2026-05-22 shows max pain at $280.00 (4.18 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$280.00
Nearest expiry
Expected Move
±$3.04
±1.1%
Days to Expiry
1
Calendar days
Total Call OI
8,632
Nearest expiry
Total Put OI
7,932
Nearest expiry
P/C OI Ratio
0.92
Put-heavy
Spot Price
$284.18
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
$287.50
5/8/2026, 11:21:20 PM
2026-05-15
$280.00
5/15/2026, 11:21:41 PM
2026-05-22NextUpdated
$280.00
5/21/2026, 11:20:48 PM
2026-05-29
$280.00
5/21/2026, 11:20:48 PM
2026-06-05
$280.00
5/21/2026, 11:20:48 PM
2026-06-12
$280.00
5/21/2026, 11:20:48 PM
2026-06-18
$295.00
5/21/2026, 11:20:48 PM
2026-06-26
$280.00
5/21/2026, 11:20:48 PM
2026-07-17
$285.00
5/21/2026, 11:20:48 PM
2026-08-21
$285.00
5/21/2026, 11:20:48 PM
2026-09-18
$300.00
5/21/2026, 11:20:48 PM
2026-10-16
$270.00
5/21/2026, 11:20:48 PM
2026-11-20
$295.00
5/21/2026, 11:20:48 PM
2026-12-18
$290.00
5/21/2026, 11:20:48 PM
2027-01-15
$300.00
5/21/2026, 11:20:48 PM
2027-03-19
$290.00
5/21/2026, 11:20:48 PM
Selected expiration: 2026-05-22 at max pain $280.00.
MCD pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
170
0
75740000
75740000
180
1000
67832000
67833000
190
5000
60052000
60057000
195
10000
56271500
56281500
200
17000
52560500
52577500
205
24000
48884000
48908000
210
31500
45207500
45239000
220
47500
37854500
37902000
235
71500
26901500
26973000
240
79500
23262500
23342000
245
89500
19624500
19714000
250
99500
15995000
16094500
252.5
108250
14203750
14312000
255
117500
12412500
12530000
257.5
126750
10708500
10835250
260
136000
9032250
9168250
262.5
145750
7426500
7572250
265
155500
5894000
6049500
267.5
165250
4541000
4706250
270
176250
3264250
3440500
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.