This page reflects OI 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 — OI
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $9.00 (0.06 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$9.00
Nearest expiry
Expected Move
±$1.28
±14.3%
Days to Expiry
29
Calendar days
Total Call OI
2,364
Nearest expiry
Total Put OI
450
Nearest expiry
P/C OI Ratio
0.19
Put-heavy
Spot Price
$8.94
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
$11.00
4/17/2026, 11:20:21 PM
2026-05-15
$10.00
5/15/2026, 11:27:23 PM
2026-06-18NextUpdated
$9.00
5/20/2026, 11:24:51 PM
2026-08-21
$11.00
5/20/2026, 11:24:51 PM
2026-11-20
$10.00
5/20/2026, 11:24:51 PM
2026-12-18
$9.00
5/20/2026, 11:24:51 PM
Selected expiration: 2026-06-18 at max pain $9.00.
OI pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
3
0
251200
251200
5
400
161200
161600
6
600
117200
117800
7
800
73400
74200
8
1000
35900
36900
9
3900
8400
12300
10
174700
2100
176800
11
381900
200
382100
12
599100
0
599100
13
828500
0
828500
14
1059200
0
1059200
15
1290100
0
1290100
17
1762700
0
1762700
20
2471600
0
2471600
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.