This page reflects NLOP 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 — NLOP
Data as of market close May 20, 2026
Nearest listed expiration 2026-07-17 shows max pain at $10.75 (0.62 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$10.75
Nearest expiry
Expected Move
±$1.95
±17.1%
Days to Expiry
58
Calendar days
Total Call OI
2,709
Nearest expiry
Total Put OI
831
Nearest expiry
P/C OI Ratio
0.31
Put-heavy
Spot Price
$11.37
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
$15.95
4/17/2026, 11:20:26 PM
2026-05-15
$6.70
5/15/2026, 11:26:53 PM
2026-07-17NextUpdated
$10.75
5/20/2026, 11:22:40 PM
2026-10-16
$9.20
5/20/2026, 11:22:40 PM
Selected expiration: 2026-07-17 at max pain $10.75.
NLOP pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
1.55
0
931815
931815
5.75
0
582795
582795
7.45
0
474845
474845
9.05
0
373245
373245
10.75
0
298615
298615
12.45
137360
230105
367465
14.05
266640
165625
432265
14.2
290865
159820
450685
15.75
546615
99835
646450
15.8
555305
97900
653205
17.5
850765
65260
916025
19.05
1122945
40150
1163095
20.75
1444585
12610
1457195
20.8
1454045
11800
1465845
20.9
1478135
10200
1488335
22.5
1863575
6680
1870255
24.05
2244100
3270
2247370
25
2477325
1180
2478505
25.8
2673725
860
2674585
25.9
2699635
820
2700455
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.