This page reflects MPT 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 — MPT
Data as of market close May 21, 2026
Nearest listed expiration 2026-05-22 shows max pain at $5.00 (0.16 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$5.00
Nearest expiry
Expected Move
±$0.22
±4.3%
Days to Expiry
1
Calendar days
Total Call OI
2,840
Nearest expiry
Total Put OI
5,705
Nearest expiry
P/C OI Ratio
2.01
Put-heavy
Spot Price
$5.16
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
$5.00
5/8/2026, 11:20:52 PM
2026-05-15
$5.00
5/15/2026, 11:23:37 PM
2026-05-22NextUpdated
$5.00
5/21/2026, 11:25:36 PM
2026-05-29
$5.00
5/21/2026, 11:25:36 PM
2026-06-05
$5.00
5/21/2026, 11:25:36 PM
2026-06-12
$5.50
5/21/2026, 11:25:36 PM
2026-06-18
$5.00
5/21/2026, 11:25:36 PM
2026-06-26
$5.00
5/21/2026, 11:25:36 PM
2026-07-17
$5.50
5/21/2026, 11:25:36 PM
2026-09-18
$5.00
5/21/2026, 11:25:36 PM
2026-10-16
$5.00
5/21/2026, 11:25:36 PM
2027-01-15
$5.50
5/21/2026, 11:25:36 PM
2027-03-19
$5.00
5/21/2026, 11:25:36 PM
Selected expiration: 2026-05-22 at max pain $5.00.
MPT pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
2446650
2446650
1
2000
2161450
2163450
1.5
4050
1876350
1880400
2.5
8450
1306450
1314900
3
10800
1021500
1032300
3.5
13900
736550
750450
4
17150
451600
468750
4.5
25550
167900
193450
5
35500
2250
37750
5.5
81000
900
81900
6
199700
500
200200
6.5
341550
200
341750
7
483400
50
483450
7.5
625300
0
625300
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.