This page reflects NSC 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 — NSC
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $290.00 (21.84 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$290.00
Nearest expiry
Expected Move
±$16.65
±5.3%
Days to Expiry
29
Calendar days
Total Call OI
2,293
Nearest expiry
Total Put OI
2,062
Nearest expiry
P/C OI Ratio
0.90
Put-heavy
Spot Price
$311.84
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
$300.00
4/17/2026, 11:25:50 PM
2026-05-15
$310.00
5/15/2026, 11:26:35 PM
2026-06-18NextUpdated
$290.00
5/20/2026, 11:24:57 PM
2026-07-17
$310.00
5/20/2026, 11:24:57 PM
2026-09-18
$300.00
5/20/2026, 11:24:57 PM
2026-12-18
$300.00
5/20/2026, 11:24:57 PM
2027-01-15
$290.00
5/20/2026, 11:24:57 PM
2027-03-19
$290.00
5/20/2026, 11:24:57 PM
Selected expiration: 2026-06-18 at max pain $290.00.
NSC pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
110
0
30110500
30110500
115
0
29079500
29079500
125
0
27019500
27019500
130
0
25990500
25990500
135
0
24964000
24964000
140
500
23939500
23940000
145
1500
22915000
22916500
150
2500
21890500
21893000
155
3500
20866000
20869500
160
5000
19842500
19847500
165
7000
18826000
18833000
170
9000
17809500
17818500
175
11000
16793000
16804000
180
13000
15776500
15789500
185
15000
14760000
14775000
190
17500
13743500
13761000
195
20000
12745000
12765000
200
22500
11754000
11776500
210
28500
9778000
9806500
220
35500
7848000
7883500
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.