This page reflects PACS 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 — PACS
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $35.00 (2.00 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$35.00
Nearest expiry
Expected Move
±$4.90
±13.2%
Days to Expiry
29
Calendar days
Total Call OI
10,968
Nearest expiry
Total Put OI
2,622
Nearest expiry
P/C OI Ratio
0.24
Put-heavy
Spot Price
$37.00
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
$30.00
4/17/2026, 11:28:09 PM
2026-05-15
$30.00
5/15/2026, 11:28:47 PM
2026-06-18NextUpdated
$35.00
5/20/2026, 11:25:35 PM
2026-07-17
$35.00
5/20/2026, 11:25:35 PM
2026-09-18
$20.00
5/20/2026, 11:25:35 PM
2026-12-18
$40.00
5/20/2026, 11:25:35 PM
2027-01-15
$15.00
5/20/2026, 11:25:35 PM
Selected expiration: 2026-06-18 at max pain $35.00.
PACS pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
8003000
8003000
5
11750
7347500
7359250
7.5
24500
6694750
6719250
10
37250
6070250
6107500
12.5
83750
5453000
5536750
15
175000
4835750
5010750
17.5
266250
4230000
4496250
20
360750
3624250
3985000
22.5
501000
3026000
3527000
25
641250
2428500
3069750
30
971250
1245500
2216750
35
1693250
361000
2054250
40
3082250
18500
3100750
45
5056750
500
5057250
50
7638250
0
7638250
55
11151750
0
11151750
60
16586750
0
16586750
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.