This page reflects MTH 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 — MTH
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $65.00 (1.32 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$65.00
Nearest expiry
Expected Move
±$5.62
±8.8%
Days to Expiry
29
Calendar days
Total Call OI
1,174
Nearest expiry
Total Put OI
1,081
Nearest expiry
P/C OI Ratio
0.92
Put-heavy
Spot Price
$63.68
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
$65.00
4/17/2026, 11:22:09 PM
2026-05-15
$65.00
5/15/2026, 11:28:03 PM
2026-06-18NextUpdated
$65.00
5/20/2026, 11:20:26 PM
2026-09-18
$65.00
5/20/2026, 11:20:26 PM
2026-12-18
$75.00
5/20/2026, 11:20:26 PM
Selected expiration: 2026-06-18 at max pain $65.00.
MTH pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
2592250
2592250
37.5
0
2322750
2322750
40
0
2053750
2053750
42.5
2500
1785000
1787500
45
5000
1542500
1547500
47.5
7500
1300250
1307750
50
10000
1058000
1068000
52.5
14250
819500
833750
55
18500
595500
614000
57.5
22750
409250
432000
60
32000
234250
266250
62.5
42750
160250
203000
65
62000
100250
162250
67.5
102750
69250
172000
70
150250
41500
191750
72.5
207250
24500
231750
75
283750
7500
291250
77.5
381500
2000
383500
80
577500
1000
578500
82.5
786500
500
787000
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.