This page reflects NICE 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 — NICE
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $100.00 (6.23 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$100.00
Nearest expiry
Expected Move
±$11.40
±12.2%
Days to Expiry
29
Calendar days
Total Call OI
1,849
Nearest expiry
Total Put OI
1,678
Nearest expiry
P/C OI Ratio
0.91
Put-heavy
Spot Price
$93.77
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
$110.00
4/17/2026, 11:22:16 PM
2026-05-15
$105.00
5/15/2026, 11:26:29 PM
2026-06-18NextUpdated
$100.00
5/20/2026, 11:22:55 PM
2026-07-17
$90.00
5/20/2026, 11:22:55 PM
2026-08-21
$100.00
5/20/2026, 11:22:55 PM
2026-11-20
$100.00
5/20/2026, 11:22:55 PM
2027-01-15
$140.00
5/20/2026, 11:22:55 PM
Selected expiration: 2026-06-18 at max pain $100.00.
NICE pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
65
0
4809000
4809000
70
0
3982000
3982000
75
0
3158500
3158500
80
0
2365500
2365500
85
10000
1628000
1638000
90
92500
1025000
1117500
95
298000
538500
836500
100
561000
124000
685000
105
1028500
59500
1088000
110
1551000
26500
1577500
115
2133000
14000
2147000
120
2767000
5000
2772000
125
3448500
0
3448500
130
4163500
0
4163500
135
4951500
0
4951500
140
5844500
0
5844500
145
6758500
0
6758500
150
7674500
0
7674500
160
9514500
0
9514500
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.