This page reflects PIPR 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 — PIPR
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $300.00 (219.96 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$300.00
Nearest expiry
Expected Move
±$3.72
±4.7%
Days to Expiry
29
Calendar days
Total Call OI
329
Nearest expiry
Total Put OI
2,981
Nearest expiry
P/C OI Ratio
9.06
Put-heavy
Spot Price
$80.04
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
$87.50
4/17/2026, 11:21:44 PM
2026-05-15
$72.50
5/15/2026, 11:30:36 PM
2026-06-18NextUpdated
$300.00
5/20/2026, 11:28:22 PM
2026-09-18
$66.25
5/20/2026, 11:28:22 PM
2026-11-20
$85.00
5/20/2026, 11:28:22 PM
2026-12-18
$105.00
5/20/2026, 11:28:22 PM
Selected expiration: 2026-06-18 at max pain $300.00.
PIPR pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
45
0
29845250
29845250
47.5
0
29100000
29100000
51.25
0
27982125
27982125
52.5
0
27609500
27609500
53.75
0
27238875
27238875
56.25
0
26502625
26502625
58.75
0
25766375
25766375
60
0
25398250
25398250
61.25
0
25030625
25030625
63.75
0
24295375
24295375
66.25
0
23560125
23560125
67.5
0
23322500
23322500
68.75
125
23084875
23085000
70
1875
22847250
22849125
71.25
3625
22609875
22613500
72.5
5375
22373000
22378375
73.75
7625
22136125
22143750
75
11875
21963250
21975125
76.25
17125
21790375
21807500
77.5
23875
21618125
21642000
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.