This page reflects NOK options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 19, 2026 close
Max Pain — NOK
Data as of market close May 19, 2026
Nearest listed expiration 2026-05-22 shows max pain at $13.00 (0.67 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$13.00
Nearest expiry
Expected Move
±$0.89
±6.5%
Days to Expiry
3
Calendar days
Total Call OI
164,968
Nearest expiry
Total Put OI
70,415
Nearest expiry
P/C OI Ratio
0.43
Put-heavy
Spot Price
$13.67
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
$12.50
5/8/2026, 11:22:36 PM
2026-05-15
$12.00
5/15/2026, 11:28:03 PM
2026-05-22NextUpdated
$13.00
5/19/2026, 11:23:14 PM
2026-05-29
$13.50
5/19/2026, 11:23:14 PM
2026-06-05
$12.00
5/19/2026, 11:23:14 PM
2026-06-12
$13.50
5/19/2026, 11:23:14 PM
2026-06-18
$11.00
5/19/2026, 11:23:14 PM
2026-06-26
$12.00
5/19/2026, 11:23:14 PM
2026-07-17
$11.00
5/19/2026, 11:23:14 PM
2026-08-21
$13.00
5/19/2026, 11:23:14 PM
2026-09-18
$10.00
5/19/2026, 11:23:14 PM
2026-10-16
$13.00
5/19/2026, 11:23:14 PM
2026-12-18
$11.00
5/19/2026, 11:23:14 PM
2027-01-15
$10.00
5/19/2026, 11:23:14 PM
Selected expiration: 2026-05-22 at max pain $13.00.
NOK pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
2
0
78231350
78231350
2.5
300
74710650
74710950
3
1050
71190000
71191050
3.5
2900
67669350
67672250
4
5700
64148700
64154400
4.5
14100
60633450
60647550
5
24600
57120200
57144800
5.5
42750
53606950
53649700
6
61200
50093700
50154900
6.5
80300
46580950
46661250
7
99600
43068350
43167950
7.5
122500
39560850
39683350
8
147300
36053500
36200800
8.5
175400
32550750
32726150
9
206350
29050950
29257300
9.5
262150
25559250
25821400
10
328400
22070900
22399300
10.5
765050
18621000
19386050
11
1213550
15186950
16400500
11.5
2026750
11787000
13813750
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.