This page reflects PEP 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 — PEP
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $150.00 (0.71 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$150.00
Nearest expiry
Expected Move
±$2.67
±1.8%
Days to Expiry
2
Calendar days
Total Call OI
14,943
Nearest expiry
Total Put OI
5,675
Nearest expiry
P/C OI Ratio
0.38
Put-heavy
Spot Price
$149.29
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-22
Expiration
Max Pain Strike
Last Updated
2026-05-08
$155.00
5/8/2026, 11:25:47 PM
2026-05-15
$152.50
5/15/2026, 11:28:40 PM
2026-05-22NextUpdated
$150.00
5/20/2026, 11:27:44 PM
2026-05-29
$150.00
5/20/2026, 11:27:44 PM
2026-06-05
$150.00
5/20/2026, 11:27:44 PM
2026-06-12
$150.00
5/20/2026, 11:27:44 PM
2026-06-18
$155.00
5/20/2026, 11:27:44 PM
2026-06-26
$150.00
5/20/2026, 11:27:44 PM
2026-07-17
$155.00
5/20/2026, 11:27:44 PM
2026-08-21
$150.00
5/20/2026, 11:27:44 PM
2026-09-18
$150.00
5/20/2026, 11:27:44 PM
2026-10-16
$150.00
5/20/2026, 11:27:44 PM
2026-11-20
$150.00
5/20/2026, 11:27:44 PM
2026-12-18
$150.00
5/20/2026, 11:27:44 PM
2027-01-15
$145.00
5/20/2026, 11:27:44 PM
2027-03-19
$160.00
5/20/2026, 11:27:44 PM
Selected expiration: 2026-05-22 at max pain $150.00.
PEP pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
80
0
37264600
37264600
105
0
23082100
23082100
120
0
14580100
14580100
125
0
11871600
11871600
130
1000
9164600
9165600
135
2000
6458600
6460600
137
3400
5408200
5411600
138
4100
4886500
4890600
139
4800
4369800
4374600
140
5500
3854800
3860300
141
6600
3372900
3379500
142
25300
2896000
2921300
143
61600
2437400
2499000
144
98400
1990100
2088500
145
135300
1563600
1698900
146
174500
1212300
1386800
147
214800
901600
1116400
148
257900
615400
873300
149
305700
386900
692600
150
374900
216000
590900
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.