This page reflects NGVT 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 — NGVT
Data as of market close May 20, 2026
Nearest listed expiration 2026-07-17 shows max pain at $57.50 (8.59 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$57.50
Nearest expiry
Expected Move
±$4.45
±6.7%
Days to Expiry
58
Calendar days
Total Call OI
38
Nearest expiry
Total Put OI
101
Nearest expiry
P/C OI Ratio
2.66
Put-heavy
Spot Price
$66.09
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-07-17
Expiration
Max Pain Strike
Last Updated
2026-04-17
$57.50
4/17/2026, 11:19:21 PM
2026-05-15
$72.50
5/15/2026, 11:26:04 PM
2026-07-17NextUpdated
$57.50
5/20/2026, 11:24:11 PM
Selected expiration: 2026-07-17 at max pain $57.50.
NGVT pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
239750
239750
37.5
750
164000
164750
40
1000
139000
140000
42.5
1250
114500
115750
45
1500
90500
92000
47.5
1750
67500
69250
50
2000
44750
46750
52.5
2250
22500
24750
55
2500
9250
11750
57.5
2750
250
3000
60
6500
0
6500
67.5
30500
0
30500
70
38500
0
38500
72.5
46750
0
46750
75
55500
0
55500
77.5
64500
0
64500
80
73750
0
73750
85
92750
0
92750
90
111750
0
111750
95
130750
0
130750
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.