This page reflects QBTS 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 — QBTS
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $19.00 (0.30 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$19.00
Nearest expiry
Expected Move
±$1.32
±6.9%
Days to Expiry
2
Calendar days
Total Call OI
35,147
Nearest expiry
Total Put OI
15,262
Nearest expiry
P/C OI Ratio
0.43
Put-heavy
Spot Price
$19.30
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
$20.00
5/8/2026, 11:27:22 PM
2026-05-15
$19.00
5/15/2026, 11:35:33 PM
2026-05-22NextUpdated
$19.00
5/20/2026, 11:28:32 PM
2026-05-29
$20.50
5/20/2026, 11:28:32 PM
2026-06-05
$19.00
5/20/2026, 11:28:32 PM
2026-06-12
$20.00
5/20/2026, 11:28:32 PM
2026-06-18
$20.00
5/20/2026, 11:28:32 PM
2026-06-26
$20.00
5/20/2026, 11:28:32 PM
2026-07-17
$19.00
5/20/2026, 11:28:32 PM
2026-09-18
$22.00
5/20/2026, 11:28:32 PM
2026-10-16
$19.00
5/20/2026, 11:28:32 PM
2026-11-20
$21.00
5/20/2026, 11:28:32 PM
2027-01-15
$15.00
5/20/2026, 11:28:32 PM
2027-03-19
$18.00
5/20/2026, 11:28:32 PM
Selected expiration: 2026-05-22 at max pain $19.00.
QBTS pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
6
0
19125300
19125300
7
700
17599100
17599800
8
1700
16072900
16074600
9
3400
14546700
14550100
9.5
4300
13784000
13788300
10
5350
13021350
13026700
10.5
7000
12259000
12266000
11
9400
11496700
11506100
11.5
11950
10736000
10747950
12
14900
9975700
9990600
12.5
17850
9216300
9234150
13
21150
8457400
8478550
13.5
26200
7703000
7729200
14
31600
6951300
6982900
14.5
37950
6213250
6251200
15
47250
5480450
5527700
15.5
62150
4760200
4822350
16
78700
4065950
4144650
16.5
100100
3446350
3546450
17
128850
2884500
3013350
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.