This page reflects PGY 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 — PGY
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $14.00 (0.56 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$14.00
Nearest expiry
Expected Move
±$2.35
±17.5%
Days to Expiry
29
Calendar days
Total Call OI
4,172
Nearest expiry
Total Put OI
5,058
Nearest expiry
P/C OI Ratio
1.21
Put-heavy
Spot Price
$13.44
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
$11.00
4/17/2026, 11:23:40 PM
2026-05-15
$13.00
5/15/2026, 11:31:33 PM
2026-06-18NextUpdated
$14.00
5/20/2026, 11:25:33 PM
2026-07-17
$14.00
5/20/2026, 11:25:33 PM
2026-08-21
$15.00
5/20/2026, 11:25:33 PM
2026-11-20
$14.00
5/20/2026, 11:25:33 PM
2027-01-15
$15.00
5/20/2026, 11:25:33 PM
Selected expiration: 2026-06-18 at max pain $14.00.
PGY pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
3530600
3530600
6
300
3024800
3025100
7
700
2519000
2519700
8
1200
2013200
2014400
9
2200
1507500
1509700
10
8600
1049800
1058400
11
15000
655100
670100
12
22200
387900
410100
13
30000
216400
246400
14
61500
112800
174300
15
120300
65700
186000
16
244900
45200
290100
17
473500
25400
498900
18
741800
11400
753200
19
1066200
400
1066600
20
1405400
100
1405500
21
1779300
0
1779300
25
3371300
0
3371300
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.