This page reflects PR 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 — PR
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $16.00 (4.89 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$16.00
Nearest expiry
Expected Move
±$1.82
±8.7%
Days to Expiry
29
Calendar days
Total Call OI
27,689
Nearest expiry
Total Put OI
4,859
Nearest expiry
P/C OI Ratio
0.18
Put-heavy
Spot Price
$20.89
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
$17.00
4/17/2026, 11:26:46 PM
2026-05-15
$21.00
5/15/2026, 11:32:41 PM
2026-06-18NextUpdated
$16.00
5/20/2026, 11:26:37 PM
2026-07-17
$15.00
5/20/2026, 11:26:37 PM
2026-10-16
$18.00
5/20/2026, 11:26:37 PM
2027-01-15
$12.00
5/20/2026, 11:26:37 PM
Selected expiration: 2026-06-18 at max pain $16.00.
PR pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
3
0
7305400
7305400
5
0
6333600
6333600
7
200
5361800
5362000
8
300
4876100
4876400
9
600
4390400
4391000
10
900
3904700
3905600
11
1200
3421900
3423100
12
1500
2939100
2940600
13
16300
2456300
2472600
14
119900
1973500
2093400
15
231500
1515700
1747200
16
533100
1156500
1689600
17
883900
806600
1690500
18
1366000
496900
1862900
19
1897300
240900
2138200
20
2454000
48700
2502700
21
3309000
8100
3317100
22
4502000
200
4502200
23
7042200
100
7042300
24
9693400
0
9693400
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.