This page reflects OC 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 — OC
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $120.00 (6.57 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$120.00
Nearest expiry
Expected Move
±$10.75
±9.5%
Days to Expiry
29
Calendar days
Total Call OI
466
Nearest expiry
Total Put OI
693
Nearest expiry
P/C OI Ratio
1.49
Put-heavy
Spot Price
$113.43
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
$110.00
4/17/2026, 11:20:54 PM
2026-05-15
$110.00
5/15/2026, 11:30:59 PM
2026-06-18NextUpdated
$120.00
5/20/2026, 11:22:51 PM
2026-07-17
$105.00
5/20/2026, 11:22:51 PM
2026-08-21
$120.00
5/20/2026, 11:22:51 PM
2026-11-20
$115.00
5/20/2026, 11:22:51 PM
2026-12-18
$125.00
5/20/2026, 11:22:51 PM
Selected expiration: 2026-06-18 at max pain $120.00.
OC pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
75
0
1797000
1797000
85
3000
1104000
1107000
90
4500
763500
768000
95
6000
439000
445000
100
7500
223000
230500
105
9000
148500
157500
110
10500
81500
92000
115
17000
42500
59500
120
27000
6500
33500
125
93000
4500
97500
130
237000
3000
240000
135
390500
2500
393000
140
557000
2000
559000
145
732000
1500
733500
150
908500
1000
909500
160
1284500
0
1284500
165
1514500
0
1514500
175
1975500
0
1975500
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.