This page reflects PPG 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 — PPG
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $97.00 (7.39 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$97.00
Nearest expiry
Expected Move
±$0.93
±0.9%
Days to Expiry
2
Calendar days
Total Call OI
947
Nearest expiry
Total Put OI
111
Nearest expiry
P/C OI Ratio
0.12
Put-heavy
Spot Price
$104.39
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
$102.00
5/8/2026, 11:26:50 PM
2026-05-15
$105.00
5/15/2026, 11:31:51 PM
2026-05-22NextUpdated
$97.00
5/20/2026, 11:28:11 PM
2026-05-29
$107.00
5/20/2026, 11:28:11 PM
2026-06-05
$107.00
5/20/2026, 11:28:11 PM
2026-06-12
$101.00
5/20/2026, 11:28:11 PM
2026-06-18
$105.00
5/20/2026, 11:28:11 PM
2026-06-26
$104.00
5/20/2026, 11:28:11 PM
2026-07-17
$110.00
5/20/2026, 11:28:11 PM
2026-08-21
$110.00
5/20/2026, 11:28:11 PM
2026-09-18
$105.00
5/20/2026, 11:28:11 PM
2026-11-20
$100.00
5/20/2026, 11:28:11 PM
2026-12-18
$115.00
5/20/2026, 11:28:11 PM
2027-01-15
$105.00
5/20/2026, 11:28:11 PM
2027-03-19
$105.00
5/20/2026, 11:28:11 PM
Selected expiration: 2026-05-22 at max pain $97.00.
PPG pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
90
0
153800
153800
91
100
142700
142800
92
300
131600
131900
93
2100
120500
122600
95
8900
98300
107200
96
12600
87400
100000
97
16600
76500
93100
98
27800
65900
93700
99
46200
55400
101600
100
65000
45200
110200
101
84200
38200
122400
102
103400
32300
135700
103
122600
26900
149500
104
143500
21600
165100
105
164400
16500
180900
106
185600
11700
197300
107
210600
7000
217600
108
238500
3200
241700
110
299900
200
300100
111
331700
0
331700
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.