This page reflects O 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 — O
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $60.00 (2.24 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$60.00
Nearest expiry
Expected Move
±$2.45
±3.9%
Days to Expiry
29
Calendar days
Total Call OI
31,064
Nearest expiry
Total Put OI
29,315
Nearest expiry
P/C OI Ratio
0.94
Put-heavy
Spot Price
$62.24
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
$62.50
4/17/2026, 11:22:41 PM
2026-05-15
$62.50
5/15/2026, 11:27:12 PM
2026-06-18NextUpdated
$60.00
5/20/2026, 11:24:34 PM
2026-07-17
$62.50
5/20/2026, 11:24:34 PM
2026-08-21
$60.00
5/20/2026, 11:24:34 PM
2026-09-18
$60.00
5/20/2026, 11:24:34 PM
2026-12-18
$60.00
5/20/2026, 11:24:34 PM
2027-01-15
$60.00
5/20/2026, 11:24:34 PM
2027-03-19
$60.00
5/20/2026, 11:24:34 PM
Selected expiration: 2026-06-18 at max pain $60.00.
O pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
27.5
0
80264500
80264500
30
0
72935750
72935750
32.5
0
65607000
65607000
35
0
58281000
58281000
37.5
0
50971500
50971500
40
0
43681500
43681500
42.5
250
36442500
36442750
45
500
29420250
29420750
47.5
750
23565500
23566250
50
65500
17981000
18046500
52.5
130250
12807500
12937750
55
246250
8265500
8511750
57.5
439250
4323250
4762500
60
803500
1294750
2098250
62.5
2135250
386750
2522000
65
5882250
52250
5934500
67.5
11807000
14500
11821500
70
18340750
6000
18346750
72.5
25695500
3750
25699250
75
33219500
1500
33221000
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.