This page reflects NNE 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 — NNE
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $25.00 (0.69 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$1.65
±6.8%
Days to Expiry
2
Calendar days
Total Call OI
5,203
Nearest expiry
Total Put OI
4,032
Nearest expiry
P/C OI Ratio
0.77
Put-heavy
Spot Price
$24.31
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-22
Expiration
Max Pain Strike
Last Updated
2026-05-08
$24.50
5/8/2026, 11:24:55 PM
2026-05-15
$25.50
5/15/2026, 11:27:50 PM
2026-05-22NextUpdated
$25.00
5/20/2026, 11:21:38 PM
2026-05-29
$25.00
5/20/2026, 11:21:38 PM
2026-06-05
$25.50
5/20/2026, 11:21:38 PM
2026-06-12
$26.00
5/20/2026, 11:21:38 PM
2026-06-18
$25.00
5/20/2026, 11:21:38 PM
2026-06-26
$26.00
5/20/2026, 11:21:38 PM
2026-07-17
$25.00
5/20/2026, 11:21:38 PM
2026-10-16
$25.00
5/20/2026, 11:21:38 PM
2027-01-15
$27.00
5/20/2026, 11:21:38 PM
Selected expiration: 2026-05-22 at max pain $25.00.
NNE pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
12
0
4361000
4361000
13
100
3957800
3957900
14
400
3554600
3555000
15
800
3151800
3152600
16
1200
2749500
2750700
16.5
1400
2548950
2550350
17
1600
2348800
2350400
17.5
1850
2149050
2150900
18
2200
1949650
1951850
18.5
2600
1754100
1756700
19
7650
1559300
1566950
19.5
13000
1370150
1383150
20
23300
1185750
1209050
20.5
34000
1032150
1066150
21
45050
882200
927250
21.5
56400
753150
809550
22
68100
631050
699150
22.5
93800
523750
617550
23
121200
426350
547550
23.5
152050
340750
492800
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.