This page reflects PENG 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 — PENG
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $30.00 (17.63 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$30.00
Nearest expiry
Expected Move
±$11.85
±24.9%
Days to Expiry
29
Calendar days
Total Call OI
23,610
Nearest expiry
Total Put OI
4,346
Nearest expiry
P/C OI Ratio
0.18
Put-heavy
Spot Price
$47.63
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
$17.50
4/17/2026, 11:28:53 PM
2026-05-15
$35.00
5/15/2026, 11:34:02 PM
2026-06-18NextUpdated
$30.00
5/20/2026, 11:27:13 PM
2026-07-17
$45.00
5/20/2026, 11:27:13 PM
2026-09-18
$25.00
5/20/2026, 11:27:13 PM
2026-10-16
$35.00
5/20/2026, 11:27:13 PM
2026-12-18
$30.00
5/20/2026, 11:27:13 PM
2027-01-15
$25.00
5/20/2026, 11:27:13 PM
Selected expiration: 2026-06-18 at max pain $30.00.
PENG pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
10
0
9191500
9191500
12.5
4000
8126500
8130500
15
8000
7086500
7094500
17.5
15000
6066500
6081500
20
31250
5175250
5206500
22.5
79000
4323500
4402500
25
206750
3508000
3714750
30
613750
2232500
2846250
35
2099750
1109500
3209250
40
4540750
378500
4919250
45
7403750
106000
7509750
50
11653250
43500
11696750
55
16909250
29000
16938250
60
23483250
20500
23503750
65
31816750
12000
31828750
70
43246750
6000
43252750
75
54713750
0
54713750
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.