This page reflects PNR 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 — PNR
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $72.50 (1.69 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$72.50
Nearest expiry
Expected Move
±$5.23
±7.0%
Days to Expiry
29
Calendar days
Total Call OI
2,496
Nearest expiry
Total Put OI
706
Nearest expiry
P/C OI Ratio
0.28
Put-heavy
Spot Price
$74.19
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, 11:25:02 PM
2026-05-15
$82.50
5/15/2026, 11:30:47 PM
2026-06-18NextUpdated
$72.50
5/20/2026, 11:27:46 PM
2026-07-17
$80.00
5/20/2026, 11:27:46 PM
2026-08-21
$80.00
5/20/2026, 11:27:46 PM
2026-09-18
$72.50
5/20/2026, 11:27:46 PM
2026-11-20
$92.50
5/20/2026, 11:27:46 PM
2027-01-15
$97.50
5/20/2026, 11:27:46 PM
Selected expiration: 2026-06-18 at max pain $72.50.
PNR pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
65
0
870750
870750
67.5
0
726750
726750
70
0
585000
585000
72.5
250
451500
451750
75
226250
320000
546250
77.5
456000
205250
661250
80
691500
101000
792500
82.5
959500
0
959500
85
1241000
0
1241000
87.5
1752250
0
1752250
90
2265500
0
2265500
92.5
2880750
0
2880750
95
3498750
0
3498750
97.5
4117750
0
4117750
105
5976250
0
5976250
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.