This page reflects PAYX 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 — PAYX
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $95.00 (0.08 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$95.00
Nearest expiry
Expected Move
±$7.30
±7.7%
Days to Expiry
29
Calendar days
Total Call OI
13,903
Nearest expiry
Total Put OI
5,146
Nearest expiry
P/C OI Ratio
0.37
Put-heavy
Spot Price
$94.92
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
$95.00
4/17/2026, 11:22:35 PM
2026-05-15
$95.00
5/15/2026, 11:30:29 PM
2026-06-18NextUpdated
$95.00
5/20/2026, 11:29:14 PM
2026-07-17
$95.00
5/20/2026, 11:29:14 PM
2026-09-18
$90.00
5/20/2026, 11:29:14 PM
2026-12-18
$100.00
5/20/2026, 11:29:14 PM
2027-01-15
$110.00
5/20/2026, 11:29:14 PM
2027-03-19
$100.00
5/20/2026, 11:29:14 PM
Selected expiration: 2026-06-18 at max pain $95.00.
PAYX pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
45
0
22449000
22449000
60
0
14730000
14730000
65
0
12162500
12162500
70
0
9718000
9718000
75
0
7374500
7374500
80
2500
5100500
5103000
85
6000
2940500
2946500
90
16500
1448500
1465000
95
276500
812000
1088500
100
1038500
514000
1552500
105
3815500
349000
4164500
110
7147500
287000
7434500
115
10841000
235500
11076500
120
15079500
184500
15264000
125
20614000
136500
20750500
130
26148500
88500
26237000
135
32058000
40500
32098500
140
38130000
15000
38145000
145
44227000
10000
44237000
150
50324000
6000
50330000
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.