This page reflects QDEL 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 — QDEL
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $12.50 (0.59 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$12.50
Nearest expiry
Expected Move
±$2.38
±19.9%
Days to Expiry
29
Calendar days
Total Call OI
4,928
Nearest expiry
Total Put OI
1,225
Nearest expiry
P/C OI Ratio
0.25
Put-heavy
Spot Price
$11.91
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
$15.00
4/17/2026, 11:24:22 PM
2026-05-15
$12.50
5/15/2026, 11:35:24 PM
2026-06-18NextUpdated
$12.50
5/20/2026, 11:27:28 PM
2026-07-17
$12.50
5/20/2026, 11:27:28 PM
2026-09-18
$17.50
5/20/2026, 11:27:28 PM
2026-12-18
$15.00
5/20/2026, 11:27:28 PM
Selected expiration: 2026-06-18 at max pain $12.50.
QDEL pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
1339750
1339750
5
1000
1033500
1034500
7.5
3000
733500
736500
10
5750
444500
450250
12.5
18500
247000
265500
15
237750
126250
364000
17.5
531000
51750
582750
20
921750
3500
925250
22.5
1332250
1500
1333750
25
1795000
1000
1796000
27.5
2283000
500
2283500
30
2783500
0
2783500
32.5
3707500
0
3707500
35
4631500
0
4631500
37.5
5580750
0
5580750
40
6531250
0
6531250
42.5
7618750
0
7618750
45
8809250
0
8809250
47.5
9999750
0
9999750
50
11193500
0
11193500
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.