This page reflects OUT 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 — OUT
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $29.00 (3.85 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$29.00
Nearest expiry
Expected Move
±$2.67
±8.1%
Days to Expiry
29
Calendar days
Total Call OI
308
Nearest expiry
Total Put OI
322
Nearest expiry
P/C OI Ratio
1.05
Put-heavy
Spot Price
$32.85
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
$27.00
4/17/2026, 11:21:57 PM
2026-05-15
$32.00
5/15/2026, 11:30:01 PM
2026-06-18NextUpdated
$29.00
5/20/2026, 11:26:55 PM
2026-07-17
$31.00
5/20/2026, 11:26:55 PM
2026-09-18
$30.00
5/20/2026, 11:26:55 PM
2026-12-18
$30.00
5/20/2026, 11:26:55 PM
Selected expiration: 2026-06-18 at max pain $29.00.
OUT pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
679300
679300
13
0
421700
421700
15
0
357300
357300
16
0
325200
325200
17
0
293200
293200
19
800
229200
230000
20
1300
199400
200700
21
1800
171600
173400
22
2400
145100
147500
23
3600
120400
124000
24
4800
97300
102100
25
6100
76700
82800
26
15900
61500
77400
27
25700
46300
72000
28
35800
31300
67100
29
47300
19300
66600
30
60300
7500
67800
31
78700
5000
83700
32
97900
3500
101400
33
118000
2600
120600
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.