This page reflects PINS 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 — PINS
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $19.50 (0.69 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$19.50
Nearest expiry
Expected Move
±$0.70
±3.8%
Days to Expiry
2
Calendar days
Total Call OI
17,922
Nearest expiry
Total Put OI
11,669
Nearest expiry
P/C OI Ratio
0.65
Put-heavy
Spot Price
$18.81
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
$20.50
5/8/2026, 11:26:29 PM
2026-05-15
$20.00
5/15/2026, 11:31:24 PM
2026-05-22NextUpdated
$19.50
5/20/2026, 11:30:49 PM
2026-05-29
$19.00
5/20/2026, 11:30:49 PM
2026-06-05
$20.50
5/20/2026, 11:30:49 PM
2026-06-12
$19.00
5/20/2026, 11:30:49 PM
2026-06-18
$21.00
5/20/2026, 11:30:49 PM
2026-06-26
$18.50
5/20/2026, 11:30:49 PM
2026-07-17
$21.00
5/20/2026, 11:30:49 PM
2026-08-21
$21.00
5/20/2026, 11:30:49 PM
2026-09-18
$23.00
5/20/2026, 11:30:49 PM
2026-11-20
$21.00
5/20/2026, 11:30:49 PM
2026-12-18
$20.00
5/20/2026, 11:30:49 PM
2027-01-15
$25.00
5/20/2026, 11:30:49 PM
2027-03-19
$22.00
5/20/2026, 11:30:49 PM
Selected expiration: 2026-05-22 at max pain $19.50.
PINS pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
16699000
16699000
9
127200
12031400
12158600
10
180100
10864500
11044600
11
233900
9697600
9931500
12
288500
8530700
8819200
13
343700
7364100
7707800
13.5
371350
6782100
7153450
14
399100
6200250
6599350
14.5
427100
5618800
6045900
15
455300
5039650
5494950
15.5
483900
4462400
4946300
16
512600
3885550
4398150
16.5
543300
3309550
3852850
17
574600
2737900
3312500
17.5
611400
2193000
2804400
18
649100
1655850
2304950
18.5
690300
1189150
1879450
19
751150
743700
1494850
19.5
822550
336400
1158950
20
1057250
186000
1243250
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.