This page reflects ONON 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 — ONON
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $35.00 (2.85 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$35.00
Nearest expiry
Expected Move
±$1.39
±3.7%
Days to Expiry
2
Calendar days
Total Call OI
4,123
Nearest expiry
Total Put OI
3,256
Nearest expiry
P/C OI Ratio
0.79
Put-heavy
Spot Price
$37.85
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
$35.00
5/8/2026, 11:25:03 PM
2026-05-15
$34.50
5/15/2026, 11:28:39 PM
2026-05-22NextUpdated
$35.00
5/20/2026, 11:27:49 PM
2026-05-29
$35.50
5/20/2026, 11:27:49 PM
2026-06-05
$35.00
5/20/2026, 11:27:49 PM
2026-06-12
$39.00
5/20/2026, 11:27:49 PM
2026-06-18
$37.50
5/20/2026, 11:27:49 PM
2026-06-26
$36.00
5/20/2026, 11:27:49 PM
2026-07-17
$37.50
5/20/2026, 11:27:49 PM
2026-09-18
$40.00
5/20/2026, 11:27:49 PM
2026-10-16
$40.00
5/20/2026, 11:27:49 PM
2026-12-18
$40.00
5/20/2026, 11:27:49 PM
2027-01-15
$40.00
5/20/2026, 11:27:49 PM
2027-03-19
$37.50
5/20/2026, 11:27:49 PM
Selected expiration: 2026-05-22 at max pain $35.00.
ONON pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
23
0
3489850
3489850
24
400
3164250
3164650
25
1100
2842150
2843250
26
2000
2520750
2522750
26.5
2650
2360100
2362750
27
3600
2200000
2203600
27.5
4800
2041100
2045900
28
6000
1884050
1890050
28.5
7500
1727300
1734800
29
9150
1570800
1579950
29.5
11050
1415200
1426250
30
13000
1260300
1273300
30.5
17600
1107000
1124600
31
22400
953850
976250
31.5
28300
821200
849500
32
34500
700650
735150
32.5
42450
601850
644300
33
50450
505950
556400
33.5
59250
420650
479900
34
68450
339150
407600
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.