This page reflects PPC 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 — PPC
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $30.00 (1.35 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$30.00
Nearest expiry
Expected Move
±$2.25
±7.8%
Days to Expiry
29
Calendar days
Total Call OI
1,020
Nearest expiry
Total Put OI
712
Nearest expiry
P/C OI Ratio
0.70
Put-heavy
Spot Price
$28.65
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
$36.00
4/17/2026, 11:23:12 PM
2026-05-15
$31.00
5/15/2026, 11:33:02 PM
2026-06-18NextUpdated
$30.00
5/20/2026, 11:26:15 PM
2026-07-17
$34.60
5/20/2026, 11:26:15 PM
2026-09-18
$30.00
5/20/2026, 11:26:15 PM
2026-12-18
$26.00
5/20/2026, 11:26:15 PM
Selected expiration: 2026-06-18 at max pain $30.00.
PPC pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
692300
692300
24
0
408300
408300
25
0
337400
337400
26
600
292200
292800
27
1200
248400
249600
28
7000
205700
212700
29
37700
167100
204800
30
74400
128800
203200
31
121500
95700
217200
32
170400
65400
235800
33
223700
45200
268900
34
285100
32600
317700
35
349200
22700
371900
36
427900
12800
440700
37
510000
9900
519900
38
594200
7000
601200
39
680700
5200
685900
40
768500
3500
772000
41
857400
1800
859200
42
948200
200
948400
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.