This page reflects ONC 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 — ONC
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $300.00 (8.74 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$300.00
Nearest expiry
Expected Move
±$14.90
±4.8%
Days to Expiry
29
Calendar days
Total Call OI
40
Nearest expiry
Total Put OI
44
Nearest expiry
P/C OI Ratio
1.10
Put-heavy
Spot Price
$308.74
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
$300.00
4/17/2026, 11:21:35 PM
2026-05-15
$320.00
5/15/2026, 11:29:00 PM
2026-06-18NextUpdated
$300.00
5/20/2026, 11:28:45 PM
2026-07-17
$270.00
5/20/2026, 11:28:45 PM
2026-08-21
$300.00
5/20/2026, 11:28:45 PM
2026-11-20
$290.00
5/20/2026, 11:28:45 PM
Selected expiration: 2026-06-18 at max pain $300.00.
ONC pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
250
0
155000
155000
260
0
112000
112000
270
0
70000
70000
280
0
35000
35000
290
0
6000
6000
300
0
0
0
310
8000
0
8000
320
20000
0
20000
330
40000
0
40000
340
68000
0
68000
350
99000
0
99000
360
137000
0
137000
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.