This page reflects MCD 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 — MCD
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $280.00 (0.27 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
±$4.43
±1.6%
Days to Expiry
2
Calendar days
Total Call OI
8,426
Nearest expiry
Total Put OI
7,697
Nearest expiry
P/C OI Ratio
0.91
Put-heavy
Spot Price
$280.27
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
5/20/2026, 11:20:14 PM
2026-05-29
$282.50
5/20/2026, 11:20:14 PM
2026-06-05
$280.00
5/20/2026, 11:20:14 PM
2026-06-12
$280.00
5/20/2026, 11:20:14 PM
2026-06-18
$295.00
5/20/2026, 11:20:14 PM
2026-06-26
$280.00
5/20/2026, 11:20:14 PM
2026-07-17
$285.00
5/20/2026, 11:20:14 PM
2026-08-21
$285.00
5/20/2026, 11:20:14 PM
2026-09-18
$300.00
5/20/2026, 11:20:14 PM
2026-10-16
$270.00
5/20/2026, 11:20:14 PM
2026-11-20
$295.00
5/20/2026, 11:20:14 PM
2026-12-18
$295.00
5/20/2026, 11:20:14 PM
2027-01-15
$300.00
5/20/2026, 11:20:14 PM
2027-03-19
$290.00
5/20/2026, 11:20:14 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
75281000
75281000
180
1000
67608000
67609000
190
5000
60047000
60052000
195
10000
56342500
56352500
200
17000
52656500
52673500
205
24000
48985500
49009500
210
31500
45314500
45346000
220
47500
37972500
38020000
235
71500
27000000
27071500
240
79500
23354500
23434000
245
89500
19709500
19799000
250
99500
16073000
16172500
252.5
108250
14278250
14386500
255
117500
12483500
12601000
257.5
126750
10776000
10902750
260
136000
9096250
9232250
262.5
145750
7487000
7632750
265
155500
5947250
6102750
267.5
165250
4553750
4719000
270
176250
3239250
3415500
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.