This page reflects PSN 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 — PSN
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $60.00 (8.35 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$60.00
Nearest expiry
Expected Move
±$5.47
±10.6%
Days to Expiry
29
Calendar days
Total Call OI
1,205
Nearest expiry
Total Put OI
1,457
Nearest expiry
P/C OI Ratio
1.21
Put-heavy
Spot Price
$51.65
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
$55.00
4/17/2026, 11:24:35 PM
2026-05-15
$55.00
5/15/2026, 11:35:23 PM
2026-06-18NextUpdated
$60.00
5/20/2026, 11:25:43 PM
2026-08-21
$60.00
5/20/2026, 11:25:43 PM
2026-09-18
$55.00
5/20/2026, 11:25:43 PM
2026-11-20
$55.00
5/20/2026, 11:25:43 PM
2026-12-18
$40.00
5/20/2026, 11:25:43 PM
Selected expiration: 2026-06-18 at max pain $60.00.
PSN pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
3788500
3788500
35
0
3060000
3060000
40
0
2331500
2331500
45
0
1708000
1708000
50
2000
1110000
1112000
55
111000
561000
672000
60
266500
29000
295500
65
532500
10500
543000
70
944000
4000
948000
75
1393500
0
1393500
80
1973000
0
1973000
85
2552500
0
2552500
90
3132000
0
3132000
95
3725000
0
3725000
100
4318000
0
4318000
105
4917000
0
4917000
110
5516500
0
5516500
115
6117000
0
6117000
120
6718500
0
6718500
125
7320500
0
7320500
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.