This page reflects PI 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 — PI
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $135.00 (2.18 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$135.00
Nearest expiry
Expected Move
±$22.60
±16.5%
Days to Expiry
29
Calendar days
Total Call OI
604
Nearest expiry
Total Put OI
231
Nearest expiry
P/C OI Ratio
0.38
Put-heavy
Spot Price
$137.18
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
$115.00
4/17/2026, 11:24:05 PM
2026-05-15
$120.00
5/15/2026, 11:31:50 PM
2026-06-18NextUpdated
$135.00
5/20/2026, 11:28:53 PM
2026-07-17
$130.00
5/20/2026, 11:28:53 PM
2026-10-16
$130.00
5/20/2026, 11:28:53 PM
2026-12-18
$120.00
5/20/2026, 11:28:53 PM
2027-01-15
$95.00
5/20/2026, 11:28:53 PM
Selected expiration: 2026-06-18 at max pain $135.00.
PI pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
1503500
1503500
65
0
1389000
1389000
70
2500
1275000
1277500
80
9500
1047000
1056500
85
14500
938000
952500
90
19500
829500
849000
95
24500
730000
754500
100
32000
634500
666500
105
40000
543000
583000
110
48000
457000
505000
115
56000
374000
430000
120
65000
300000
365000
125
77000
231000
308000
130
96500
173000
269500
135
123000
123000
246000
140
208500
84000
292500
145
306500
63000
369500
150
424000
43500
467500
155
560000
26500
586500
160
716000
10000
726000
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.