This page reflects PTON options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 21, 2026 close
Max Pain — PTON
Data as of market close May 21, 2026
Nearest listed expiration 2026-05-22 shows max pain at $0.50 (4.68 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
±$0.26
±5.0%
Days to Expiry
1
Calendar days
Total Call OI
18,562
Nearest expiry
Total Put OI
2,202
Nearest expiry
P/C OI Ratio
0.12
Put-heavy
Spot Price
$5.18
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
5/21/2026, 11:28:28 PM
2026-05-29
$5.00
5/21/2026, 11:28:28 PM
2026-06-05
$5.00
5/21/2026, 11:28:28 PM
2026-06-12
$4.50
5/21/2026, 11:28:28 PM
2026-06-18
$5.00
5/21/2026, 11:28:28 PM
2026-06-26
$4.50
5/21/2026, 11:28:28 PM
2026-07-17
$5.00
5/21/2026, 11:28:28 PM
2026-10-16
$5.00
5/21/2026, 11:28:28 PM
2027-01-15
$5.00
5/21/2026, 11:28:28 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
1001600
1001600
1
265100
892300
1157400
1.5
544400
783200
1327600
2
839500
674100
1513600
2.5
1144750
565150
1709900
3
1451300
456900
1908200
3.5
1760800
350050
2110850
4
2070400
248950
2319350
4.5
2381450
150300
2531750
5
2693750
66950
2760700
5.5
3116600
20550
3137150
6
3734300
6050
3740350
6.5
4434550
3200
4437750
7
5183000
2150
5185150
7.5
6086250
1150
6087400
8
6993000
550
6993550
8.5
7905500
250
7905750
9
8833550
100
8833650
9.5
9761600
0
9761600
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.