This page reflects NU 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 — NU
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $12.50 (0.29 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$12.50
Nearest expiry
Expected Move
±$0.40
±3.1%
Days to Expiry
2
Calendar days
Total Call OI
52,572
Nearest expiry
Total Put OI
22,718
Nearest expiry
P/C OI Ratio
0.43
Put-heavy
Spot Price
$12.79
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
$14.00
5/8/2026, 11:22:55 PM
2026-05-15
$14.00
5/15/2026, 11:22:10 PM
2026-05-22NextUpdated
$12.50
5/20/2026, 11:27:03 PM
2026-05-29
$13.00
5/20/2026, 11:27:03 PM
2026-06-05
$13.00
5/20/2026, 11:27:03 PM
2026-06-12
$13.00
5/20/2026, 11:27:03 PM
2026-06-18
$14.00
5/20/2026, 11:27:03 PM
2026-06-26
$12.50
5/20/2026, 11:27:03 PM
2026-07-17
$14.00
5/20/2026, 11:27:03 PM
2026-08-21
$13.00
5/20/2026, 11:27:03 PM
2026-09-18
$15.00
5/20/2026, 11:27:03 PM
2026-10-16
$14.00
5/20/2026, 11:27:03 PM
2026-12-18
$15.00
5/20/2026, 11:27:03 PM
2027-01-15
$15.00
5/20/2026, 11:27:03 PM
2027-03-19
$13.00
5/20/2026, 11:27:03 PM
Selected expiration: 2026-05-22 at max pain $12.50.
NU pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
16638750
16638750
8
299100
9881850
10180950
9
399200
7629550
8028750
9.5
450250
6503500
6953750
10
502150
5377450
5879600
10.5
580700
4251900
4832600
11
659650
3127200
3786850
11.5
749750
2020250
2770000
12
844250
1211500
2055750
12.5
997750
791700
1789450
13
1295000
533300
1828300
13.5
2079500
320850
2400350
14
3089950
134050
3224000
14.5
4548750
26600
4575350
15
6063150
2800
6065950
15.5
7730500
1250
7731750
16
9446600
1050
9447650
16.5
11220350
850
11221200
17
13007300
650
13007950
17.5
14808400
550
14808950
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.