This page reflects MGM 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 — MGM
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $37.50 (0.99 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$37.50
Nearest expiry
Expected Move
±$1.12
±3.1%
Days to Expiry
2
Calendar days
Total Call OI
6,524
Nearest expiry
Total Put OI
3,818
Nearest expiry
P/C OI Ratio
0.59
Put-heavy
Spot Price
$36.51
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
$38.00
5/8/2026, 11:22:36 PM
2026-05-15
$37.50
5/15/2026, 11:26:04 PM
2026-05-22NextUpdated
$37.50
5/20/2026, 11:24:33 PM
2026-05-29
$38.00
5/20/2026, 11:24:33 PM
2026-06-05
$37.00
5/20/2026, 11:24:33 PM
2026-06-12
$38.00
5/20/2026, 11:24:33 PM
2026-06-18
$35.00
5/20/2026, 11:24:33 PM
2026-06-26
$35.00
5/20/2026, 11:24:33 PM
2026-07-17
$39.00
5/20/2026, 11:24:33 PM
2026-08-21
$35.00
5/20/2026, 11:24:33 PM
2026-09-18
$36.00
5/20/2026, 11:24:33 PM
2026-12-18
$38.00
5/20/2026, 11:24:33 PM
2027-01-15
$30.00
5/20/2026, 11:24:33 PM
2027-03-19
$37.00
5/20/2026, 11:24:33 PM
Selected expiration: 2026-05-22 at max pain $37.50.
MGM pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
29
0
2881250
2881250
30
0
2499550
2499550
31
100
2118250
2118350
32
200
1737550
1737750
32.5
250
1547300
1547550
33
300
1357450
1357750
33.5
350
1168650
1169000
34
450
980450
980900
34.5
550
796650
797200
35
800
613900
614700
35.5
1200
435750
436950
36
1750
263700
265450
36.5
6750
160000
166750
37
11850
58350
70200
37.5
17950
18200
36150
38
75250
3750
79000
38.5
146900
2300
149200
39
449150
1750
450900
39.5
756750
1300
758050
40
1068250
900
1069150
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.