This page reflects PLCE options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 21, 2026 close
Max Pain — PLCE
Data as of market close May 21, 2026
Nearest listed expiration 2026-06-18 shows max pain at $4.00 (0.62 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$4.00
Nearest expiry
Expected Move
±$0.90
±26.6%
Days to Expiry
28
Calendar days
Total Call OI
4,086
Nearest expiry
Total Put OI
9,271
Nearest expiry
P/C OI Ratio
2.27
Put-heavy
Spot Price
$3.38
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
$3.00
4/17/2026, 11:24:20 PM
2026-05-15
$3.00
5/15/2026, 11:29:58 PM
2026-06-18NextUpdated
$4.00
5/21/2026, 11:26:30 PM
2026-09-18
$3.00
5/21/2026, 11:26:30 PM
2026-12-18
$4.00
5/21/2026, 11:26:30 PM
2027-01-15
$5.00
5/21/2026, 11:26:30 PM
Selected expiration: 2026-06-18 at max pain $4.00.
PLCE pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
2358500
2358500
2
100
1431900
1432000
3
7500
518100
525600
4
30400
69700
100100
5
156900
23500
180400
6
344900
12100
357000
7
602500
5600
608100
8
936800
1200
938000
9
1273600
800
1274400
10
1652200
400
1652600
11
2048500
0
2048500
12
2445500
0
2445500
13
2844700
0
2844700
14
3245400
0
3245400
15
3646700
0
3646700
16
4052600
0
4052600
17
4459700
0
4459700
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.