This page reflects OSIS 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 — OSIS
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $220.00 (8.63 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$220.00
Nearest expiry
Expected Move
±$22.70
±10.7%
Days to Expiry
29
Calendar days
Total Call OI
57
Nearest expiry
Total Put OI
46
Nearest expiry
P/C OI Ratio
0.81
Put-heavy
Spot Price
$211.37
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
$270.00
4/17/2026, 11:21:12 PM
2026-05-15
$280.00
5/15/2026, 11:30:03 PM
2026-06-18NextUpdated
$220.00
5/20/2026, 11:26:19 PM
2026-07-17
$220.00
5/20/2026, 11:26:19 PM
2026-10-16
$230.00
5/20/2026, 11:26:19 PM
2026-12-18
$220.00
5/20/2026, 11:26:19 PM
2027-01-15
$190.00
5/20/2026, 11:26:19 PM
Selected expiration: 2026-06-18 at max pain $220.00.
OSIS pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
180
0
145000
145000
195
0
77500
77500
200
0
58000
58000
210
0
34000
34000
220
6000
14000
20000
230
25000
3000
28000
240
44000
1000
45000
250
63000
0
63000
270
123000
0
123000
280
159000
0
159000
290
197000
0
197000
310
275000
0
275000
340
413000
0
413000
350
461000
0
461000
360
512000
0
512000
370
564000
0
564000
380
620000
0
620000
390
677000
0
677000
420
848000
0
848000
430
905000
0
905000
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.