This page reflects PSA 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 — PSA
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $290.00 (12.87 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$290.00
Nearest expiry
Expected Move
±$16.70
±5.5%
Days to Expiry
29
Calendar days
Total Call OI
2,000
Nearest expiry
Total Put OI
2,276
Nearest expiry
P/C OI Ratio
1.14
Put-heavy
Spot Price
$302.87
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
$270.00
4/17/2026, 11:29:09 PM
2026-05-15
$290.00
5/15/2026, 11:30:19 PM
2026-06-18NextUpdated
$290.00
5/20/2026, 11:27:26 PM
2026-07-17
$280.00
5/20/2026, 11:27:26 PM
2026-09-18
$280.00
5/20/2026, 11:27:26 PM
2026-12-18
$280.00
5/20/2026, 11:27:26 PM
Selected expiration: 2026-06-18 at max pain $290.00.
PSA pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
150
0
23869500
23869500
160
0
21594500
21594500
165
500
20458000
20458500
170
1000
19322000
19323000
175
1500
18189000
18190500
180
2000
17065000
17067000
185
2500
15942000
15944500
190
3000
14824500
14827500
195
3500
13715500
13719000
200
4000
12612000
12616000
210
5000
10405000
10410000
220
8000
8261000
8269000
230
11000
6198000
6209000
240
56000
4164000
4220000
250
102000
2486000
2588000
260
150000
1562000
1712000
270
198000
784000
982000
280
264000
312000
576000
290
391000
103000
494000
300
588000
32000
620000
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.