This page reflects PAYC 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 — PAYC
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $135.00 (2.98 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$135.00
Nearest expiry
Expected Move
±$15.00
±10.9%
Days to Expiry
29
Calendar days
Total Call OI
4,365
Nearest expiry
Total Put OI
2,578
Nearest expiry
P/C OI Ratio
0.59
Put-heavy
Spot Price
$137.98
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
$120.00
4/17/2026, 11:22:13 PM
2026-05-15
$125.00
5/15/2026, 11:28:26 PM
2026-06-18NextUpdated
$135.00
5/20/2026, 11:26:53 PM
2026-07-17
$145.00
5/20/2026, 11:26:53 PM
2026-08-21
$140.00
5/20/2026, 11:26:53 PM
2026-11-20
$140.00
5/20/2026, 11:26:53 PM
2026-12-18
$175.00
5/20/2026, 11:26:53 PM
2027-01-15
$155.00
5/20/2026, 11:26:53 PM
Selected expiration: 2026-06-18 at max pain $135.00.
PAYC pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
65
0
15218500
15218500
70
0
13930500
13930500
75
2000
12643500
12645500
80
4000
11357500
11361500
85
6000
10071500
10077500
90
8000
8855000
8863000
95
25500
7696000
7721500
100
43000
6668500
6711500
105
61000
5674000
5735000
110
79000
4714500
4793500
115
98500
3806500
3905000
120
121000
2945000
3066000
125
147500
2175000
2322500
130
259000
1458000
1717000
135
537000
796500
1333500
140
880000
649000
1529000
145
1681000
547000
2228000
150
2590000
467000
3057000
155
3989500
404000
4393500
160
5560500
351500
5912000
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.