This page reflects OPY 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 — OPY
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $80.00 (15.26 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$80.00
Nearest expiry
Expected Move
±$4.42
±4.7%
Days to Expiry
29
Calendar days
Total Call OI
54
Nearest expiry
Total Put OI
23
Nearest expiry
P/C OI Ratio
0.43
Put-heavy
Spot Price
$95.26
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
$95.00
4/17/2026, 11:26:36 PM
2026-05-15
$100.00
5/15/2026, 11:27:55 PM
2026-06-18NextUpdated
$80.00
5/20/2026, 11:25:01 PM
2026-09-18
$70.00
5/20/2026, 11:25:01 PM
2026-12-18
$90.00
5/20/2026, 11:25:01 PM
Selected expiration: 2026-06-18 at max pain $80.00.
OPY pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
39
0
111200
111200
40
100
108900
109000
49
2800
88200
91000
50
3100
85900
89000
64
10100
53700
63800
65
10700
51400
62100
69
13500
42200
55700
74
17000
31200
48200
80
21200
18600
39800
84
28000
13400
41400
85
29700
12300
42000
89
40900
8300
49200
90
43800
7300
51100
94
56200
5300
61500
95
59300
5000
64300
99
74100
3800
77900
100
77900
3500
81400
105
100900
2000
102900
110
123900
1000
124900
115
146900
500
147400
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.