This page reflects NTAP 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 — NTAP
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $110.00 (8.97 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$110.00
Nearest expiry
Expected Move
±$14.25
±12.0%
Days to Expiry
29
Calendar days
Total Call OI
8,885
Nearest expiry
Total Put OI
2,495
Nearest expiry
P/C OI Ratio
0.28
Put-heavy
Spot Price
$118.97
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
$100.00
4/17/2026, 11:19:58 PM
2026-05-15
$105.00
5/15/2026, 11:27:53 PM
2026-06-18NextUpdated
$110.00
5/20/2026, 11:25:58 PM
2026-07-17
$110.00
5/20/2026, 11:25:58 PM
2026-08-21
$115.00
5/20/2026, 11:25:58 PM
2026-09-18
$130.00
5/20/2026, 11:25:58 PM
2026-12-18
$110.00
5/20/2026, 11:25:58 PM
2027-01-15
$125.00
5/20/2026, 11:25:58 PM
2027-03-19
$105.00
5/20/2026, 11:25:58 PM
Selected expiration: 2026-06-18 at max pain $110.00.
NTAP pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
15089000
15089000
45
0
13842500
13842500
50
0
12596500
12596500
55
0
11350500
11350500
60
0
10104500
10104500
65
1000
8861500
8862500
70
2000
7618500
7620500
75
5000
6399500
6404500
80
32500
5189500
5222000
85
65500
4059000
4124500
90
100000
2969500
3069500
95
153500
1938000
2091500
100
221500
1242000
1463500
105
368500
822000
1190500
110
619500
473000
1092500
115
926000
192500
1118500
120
1456500
77000
1533500
125
2549000
11000
2560000
130
5053000
2000
5055000
135
7822000
0
7822000
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.