This page reflects NNI 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 — NNI
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $125.00 (3.35 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$125.00
Nearest expiry
Expected Move
±$7.53
±5.9%
Days to Expiry
29
Calendar days
Total Call OI
43
Nearest expiry
Total Put OI
31
Nearest expiry
P/C OI Ratio
0.72
Put-heavy
Spot Price
$128.35
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
$130.00
4/17/2026, 11:22:13 PM
2026-05-15
$120.00
5/15/2026, 11:27:32 PM
2026-06-18NextUpdated
$125.00
5/20/2026, 11:23:37 PM
2026-09-18
$125.00
5/20/2026, 11:23:37 PM
Selected expiration: 2026-06-18 at max pain $125.00.
NNI pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
75
0
168000
168000
95
0
106000
106000
115
0
44000
44000
120
5000
28500
33500
125
11000
15500
26500
135
25000
4500
29500
140
32000
2500
34500
145
48000
1000
49000
150
69000
0
69000
155
90000
0
90000
160
111500
0
111500
165
133000
0
133000
170
154500
0
154500
180
197500
0
197500
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.