This page reflects OPRA 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 — OPRA
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $17.00 (0.44 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$17.00
Nearest expiry
Expected Move
±$1.60
±9.2%
Days to Expiry
29
Calendar days
Total Call OI
9,209
Nearest expiry
Total Put OI
7,639
Nearest expiry
P/C OI Ratio
0.83
Put-heavy
Spot Price
$17.44
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
$15.00
4/17/2026, 11:28:25 PM
2026-05-15
$16.00
5/15/2026, 11:27:56 PM
2026-06-18NextUpdated
$17.00
5/20/2026, 11:26:30 PM
2026-07-17
$14.00
5/20/2026, 11:26:30 PM
2026-10-16
$16.00
5/20/2026, 11:26:30 PM
2027-01-15
$12.50
5/20/2026, 11:26:30 PM
Selected expiration: 2026-06-18 at max pain $17.00.
OPRA pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
12
0
3440000
3440000
13
0
2676200
2676200
14
0
1912600
1912600
15
100
1150300
1150400
16
1300
394500
395800
17
4800
10400
15200
18
30100
2400
32500
19
140900
1500
142400
20
654100
900
655000
21
1559300
600
1559900
22
2471200
300
2471500
23
3391700
100
3391800
24
4312600
0
4312600
25
5233500
0
5233500
30
9838000
0
9838000
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.