This page reflects PTON 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 — PTON
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $0.50 (4.67 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$0.50
Nearest expiry
Expected Move
±$0.30
±5.8%
Days to Expiry
2
Calendar days
Total Call OI
18,334
Nearest expiry
Total Put OI
2,017
Nearest expiry
P/C OI Ratio
0.11
Put-heavy
Spot Price
$5.17
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
$4.50
5/8/2026, 11:27:28 PM
2026-05-15
$4.00
5/15/2026, 11:32:08 PM
2026-05-22NextUpdated
$0.50
5/20/2026, 11:29:30 PM
2026-05-29
$5.00
5/20/2026, 11:29:30 PM
2026-06-05
$5.00
5/20/2026, 11:29:30 PM
2026-06-12
$4.50
5/20/2026, 11:29:30 PM
2026-06-18
$5.00
5/20/2026, 11:29:30 PM
2026-06-26
$4.50
5/20/2026, 11:29:30 PM
2026-07-17
$5.00
5/20/2026, 11:29:30 PM
2026-10-16
$5.00
5/20/2026, 11:29:30 PM
2027-01-15
$5.00
5/20/2026, 11:29:30 PM
Selected expiration: 2026-05-22 at max pain $0.50.
PTON pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
913050
913050
1
265100
813000
1078100
1.5
544400
713150
1257550
2
839450
613300
1452750
2.5
1144600
513600
1658200
3
1451000
414600
1865600
3.5
1760350
317150
2077500
4
2069800
225450
2295250
4.5
2380700
136200
2516900
5
2692900
62250
2755150
5.5
3119450
21700
3141150
6
3726800
6350
3733150
6.5
4416850
2750
4419600
7
5155000
1800
5156800
7.5
6046850
950
6047800
8
6942200
400
6942600
8.5
7843300
150
7843450
9
8759950
50
8760000
9.5
9676600
0
9676600
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.