This page reflects ORKA 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 — ORKA
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $60.00 (0.67 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$60.00
Nearest expiry
Expected Move
±$9.30
±15.3%
Days to Expiry
29
Calendar days
Total Call OI
3,296
Nearest expiry
Total Put OI
1,742
Nearest expiry
P/C OI Ratio
0.53
Put-heavy
Spot Price
$60.67
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
$40.00
4/17/2026, 11:27:53 PM
2026-05-15
$65.00
5/15/2026, 11:26:53 PM
2026-06-18NextUpdated
$60.00
5/20/2026, 11:26:50 PM
2026-07-17
$65.00
5/20/2026, 11:26:50 PM
2026-08-21
$55.00
5/20/2026, 11:26:50 PM
2026-11-20
$65.00
5/20/2026, 11:26:50 PM
2026-12-18
$60.00
5/20/2026, 11:26:50 PM
2027-01-15
$75.00
5/20/2026, 11:26:50 PM
2027-02-19
$40.00
5/20/2026, 11:26:50 PM
2027-03-19
$80.00
5/20/2026, 11:26:50 PM
Selected expiration: 2026-06-18 at max pain $60.00.
ORKA pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
3746000
3746000
40
500
2881500
2882000
45
1000
2042000
2043000
50
2000
1203500
1205500
55
4500
367500
372000
60
18000
272000
290000
65
245500
184500
430000
70
495500
118500
614000
75
750500
57000
807500
80
1018500
1000
1019500
85
1328000
500
1328500
90
2708000
0
2708000
95
4090500
0
4090500
100
5480000
0
5480000
105
7115000
0
7115000
120
12056000
0
12056000
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.