This page reflects PHM 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 — PHM
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $110.00 (6.26 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$110.00
Nearest expiry
Expected Move
±$3.12
±2.7%
Days to Expiry
2
Calendar days
Total Call OI
411
Nearest expiry
Total Put OI
226
Nearest expiry
P/C OI Ratio
0.55
Put-heavy
Spot Price
$116.26
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
$119.00
5/8/2026, 11:27:01 PM
2026-05-15
$117.00
5/15/2026, 11:31:44 PM
2026-05-22NextUpdated
$110.00
5/20/2026, 11:25:44 PM
2026-05-29
$114.00
5/20/2026, 11:25:44 PM
2026-06-05
$115.00
5/20/2026, 11:25:44 PM
2026-06-12
$129.00
5/20/2026, 11:25:44 PM
2026-06-18
$115.00
5/20/2026, 11:25:44 PM
2026-06-26
$110.00
5/20/2026, 11:25:44 PM
2026-07-17
$120.00
5/20/2026, 11:25:44 PM
2026-09-18
$120.00
5/20/2026, 11:25:44 PM
2026-10-16
$105.00
5/20/2026, 11:25:44 PM
2026-12-18
$120.00
5/20/2026, 11:25:44 PM
2027-01-15
$120.00
5/20/2026, 11:25:44 PM
2027-03-19
$90.00
5/20/2026, 11:25:44 PM
Selected expiration: 2026-05-22 at max pain $110.00.
PHM pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
70
0
959800
959800
90
0
507800
507800
100
0
282800
282800
102
0
238800
238800
103
0
217000
217000
104
200
195200
195400
105
500
173800
174300
106
6400
155700
162100
107
17900
138300
156200
108
29700
120900
150600
109
41600
106300
147900
110
53700
93800
147500
111
66200
84900
151100
112
80500
76700
157200
113
94800
69200
164000
114
109400
62000
171400
115
124700
55200
179900
116
143300
49100
192400
117
162600
43600
206200
118
186500
38800
225300
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.