This page reflects PII 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 — PII
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $65.00 (1.94 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$65.00
Nearest expiry
Expected Move
±$7.17
±11.4%
Days to Expiry
29
Calendar days
Total Call OI
2,430
Nearest expiry
Total Put OI
1,536
Nearest expiry
P/C OI Ratio
0.63
Put-heavy
Spot Price
$63.06
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
$55.00
4/17/2026, 11:26:08 PM
2026-05-15
$60.00
5/15/2026, 11:31:59 PM
2026-06-18NextUpdated
$65.00
5/20/2026, 11:25:54 PM
2026-09-18
$55.00
5/20/2026, 11:25:54 PM
2026-12-18
$65.00
5/20/2026, 11:25:54 PM
2027-01-15
$45.00
5/20/2026, 11:25:54 PM
Selected expiration: 2026-06-18 at max pain $65.00.
PII pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
3879500
3879500
35
0
3115500
3115500
40
1000
2429000
2430000
45
3500
1779500
1783000
50
7500
1229500
1237000
55
17000
779500
796500
60
99000
441500
540500
65
319000
207500
526500
70
703500
84500
788000
75
1421500
36500
1458000
80
2363000
14000
2377000
85
3371000
0
3371000
90
4459000
0
4459000
95
5665500
0
5665500
100
6872000
0
6872000
105
8083500
0
8083500
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.