This page reflects MSI 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 — MSI
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $410.00 (14.08 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$410.00
Nearest expiry
Expected Move
±$22.50
±5.7%
Days to Expiry
29
Calendar days
Total Call OI
2,070
Nearest expiry
Total Put OI
678
Nearest expiry
P/C OI Ratio
0.33
Put-heavy
Spot Price
$395.92
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
$430.00
4/17/2026, 11:22:09 PM
2026-05-15
$410.00
5/15/2026, 11:25:15 PM
2026-06-18NextUpdated
$410.00
5/20/2026, 11:22:45 PM
2026-07-17
$400.00
5/20/2026, 11:22:45 PM
2026-10-16
$400.00
5/20/2026, 11:22:45 PM
2027-01-15
$330.00
5/20/2026, 11:22:45 PM
Selected expiration: 2026-06-18 at max pain $410.00.
MSI pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
300
0
6169000
6169000
320
12000
4815000
4827000
330
18000
4157000
4175000
340
25000
3502000
3527000
350
33000
2857000
2890000
360
42000
2263000
2305000
370
51000
1744000
1795000
380
60000
1279000
1339000
390
72000
931000
1003000
400
97000
675000
772000
410
134000
455000
589000
420
468000
246000
714000
430
984000
102000
1086000
440
1668000
1000
1669000
450
2501000
0
2501000
460
4228000
0
4228000
470
5975000
0
5975000
480
7779000
0
7779000
490
9604000
0
9604000
500
11440000
0
11440000
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.