This page reflects PH 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 — PH
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $900.00 (40.56 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$900.00
Nearest expiry
Expected Move
±$28.30
±3.3%
Days to Expiry
29
Calendar days
Total Call OI
953
Nearest expiry
Total Put OI
2,149
Nearest expiry
P/C OI Ratio
2.25
Put-heavy
Spot Price
$859.44
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
$910.00
4/17/2026, 11:24:21 PM
2026-05-15
$880.00
5/15/2026, 11:30:24 PM
2026-06-18NextUpdated
$900.00
5/20/2026, 11:25:41 PM
2026-07-17
$840.00
5/20/2026, 11:25:41 PM
2026-08-21
$870.00
5/20/2026, 11:25:41 PM
2026-11-20
$890.00
5/20/2026, 11:25:41 PM
Selected expiration: 2026-06-18 at max pain $900.00.
PH pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
700
0
26696000
26696000
710
2000
24547000
24549000
720
4000
22403000
22407000
730
6000
20266000
20272000
740
8000
18138000
18146000
750
10000
16016000
16026000
760
12000
13910000
13922000
770
22000
11811000
11833000
780
32000
9718000
9750000
790
42000
7627000
7669000
800
52000
5972000
6024000
810
63000
5002000
5065000
820
74000
4045000
4119000
830
85000
3122000
3207000
840
97000
2506000
2603000
850
110000
1906000
2016000
860
134000
1350000
1484000
870
158000
1079000
1237000
880
205000
830000
1035000
890
262000
600000
862000
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.