This page reflects MSCI 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 — MSCI
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $570.00 (11.97 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$570.00
Nearest expiry
Expected Move
±$40.30
±6.9%
Days to Expiry
29
Calendar days
Total Call OI
767
Nearest expiry
Total Put OI
929
Nearest expiry
P/C OI Ratio
1.21
Put-heavy
Spot Price
$581.97
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
$550.00
4/17/2026, 11:21:26 PM
2026-05-15
$580.00
5/15/2026, 11:28:51 PM
2026-06-18NextUpdated
$570.00
5/20/2026, 11:24:17 PM
2026-07-17
$580.00
5/20/2026, 11:24:17 PM
2026-08-21
$540.00
5/20/2026, 11:24:17 PM
2026-09-18
$590.00
5/20/2026, 11:24:17 PM
2026-12-18
$600.00
5/20/2026, 11:24:17 PM
Selected expiration: 2026-06-18 at max pain $570.00.
MSCI pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
320
0
17906000
17906000
330
0
16978000
16978000
340
1000
16050000
16051000
350
3000
15122000
15125000
360
6000
14197000
14203000
370
9000
13272000
13281000
380
12000
12347000
12359000
390
15000
11422000
11437000
400
18000
10497000
10515000
410
22000
9575000
9597000
420
27000
8720000
8747000
430
32000
7865000
7897000
440
37000
7024000
7061000
450
42000
6189000
6231000
460
49000
5386000
5435000
470
58000
4613000
4671000
480
67000
3855000
3922000
490
81000
3146000
3227000
500
95000
2464000
2559000
510
114000
1916000
2030000
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.