This page reflects MSA 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 — MSA
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $160.00 (8.96 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$160.00
Nearest expiry
Expected Move
±$10.25
±6.1%
Days to Expiry
29
Calendar days
Total Call OI
70
Nearest expiry
Total Put OI
37
Nearest expiry
P/C OI Ratio
0.53
Put-heavy
Spot Price
$168.96
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-06-18
Expiration
Max Pain Strike
Last Updated
2026-04-17
$160.00
4/17/2026, 11:21:22 PM
2026-05-15
$160.00
5/15/2026, 11:26:46 PM
2026-06-18NextUpdated
$160.00
5/20/2026, 11:25:44 PM
2026-09-18
$170.00
5/20/2026, 11:25:44 PM
2026-12-18
$180.00
5/20/2026, 11:25:44 PM
Selected expiration: 2026-06-18 at max pain $160.00.
MSA pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
110
0
131500
131500
115
500
113000
113500
120
1500
96000
97500
125
2500
82000
84500
130
4000
69000
73000
135
5500
56000
61500
140
9000
43000
52000
145
13000
31000
44000
150
17000
19000
36000
155
22000
8500
30500
160
27000
1000
28000
165
32500
500
33000
170
40500
0
40500
175
48500
0
48500
180
57000
0
57000
185
80500
0
80500
190
111500
0
111500
195
143000
0
143000
200
174500
0
174500
210
242500
0
242500
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.