This page reflects OTIS 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 — OTIS
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $77.50 (6.23 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$77.50
Nearest expiry
Expected Move
±$4.12
±5.8%
Days to Expiry
29
Calendar days
Total Call OI
5,201
Nearest expiry
Total Put OI
2,004
Nearest expiry
P/C OI Ratio
0.39
Put-heavy
Spot Price
$71.27
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
$80.00
4/17/2026, 11:27:22 PM
2026-05-15
$80.00
5/15/2026, 11:28:15 PM
2026-06-18NextUpdated
$77.50
5/20/2026, 11:25:21 PM
2026-07-17
$72.50
5/20/2026, 11:25:21 PM
2026-09-18
$80.00
5/20/2026, 11:25:21 PM
2026-12-18
$80.00
5/20/2026, 11:25:21 PM
Selected expiration: 2026-06-18 at max pain $77.50.
OTIS pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
47.5
0
5233000
5233000
50
500
4732000
4732500
60
2500
2758000
2760500
65
4000
1816500
1820500
67.5
4750
1354250
1359000
70
5500
904250
909750
72.5
13750
595500
609250
75
35750
317750
353500
77.5
78250
203750
282000
80
306000
110000
416000
82.5
782500
64000
846500
85
1372250
24500
1396750
87.5
1967000
16750
1983750
90
2594750
9500
2604250
92.5
3264000
2250
3266250
95
4295000
1500
4296500
97.5
5430500
750
5431250
100
6607000
0
6607000
105
9112500
0
9112500
110
11706500
0
11706500
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.