This page reflects NPO 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 — NPO
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $260.00 (45.45 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$260.00
Nearest expiry
Expected Move
±$96.20
±31.5%
Days to Expiry
29
Calendar days
Total Call OI
912
Nearest expiry
Total Put OI
252
Nearest expiry
P/C OI Ratio
0.28
Put-heavy
Spot Price
$305.45
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
$250.00
4/17/2026, 11:20:25 PM
2026-05-15
$280.00
5/15/2026, 11:25:43 PM
2026-06-18NextUpdated
$260.00
5/20/2026, 11:25:52 PM
2026-09-18
$180.00
5/20/2026, 11:25:52 PM
2026-12-18
$260.00
5/20/2026, 11:25:52 PM
Selected expiration: 2026-06-18 at max pain $260.00.
NPO pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
125
0
2867000
2867000
130
0
2741500
2741500
135
0
2618000
2618000
140
500
2497000
2497500
145
1500
2378000
2379500
150
3000
2263500
2266500
155
5000
2153500
2158500
160
8000
2046500
2054500
165
11000
1942000
1953000
170
14500
1839000
1853500
175
18000
1736000
1754000
180
21500
1633000
1654500
185
26000
1531000
1557000
190
31000
1431500
1462500
195
37000
1332500
1369500
200
45500
1234000
1279500
210
63500
1050000
1113500
220
82500
884000
966500
230
103500
721000
824500
240
146500
559000
705500
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.