This page reflects QS 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 — QS
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $7.50 (0.17 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$7.50
Nearest expiry
Expected Move
±$0.50
±6.5%
Days to Expiry
2
Calendar days
Total Call OI
41,910
Nearest expiry
Total Put OI
8,850
Nearest expiry
P/C OI Ratio
0.21
Put-heavy
Spot Price
$7.67
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
$7.00
5/8/2026, 11:26:41 PM
2026-05-15
$7.00
5/15/2026, 11:32:44 PM
2026-05-22NextUpdated
$7.50
5/20/2026, 11:30:55 PM
2026-05-29
$7.00
5/20/2026, 11:30:55 PM
2026-06-05
$8.00
5/20/2026, 11:30:55 PM
2026-06-12
$7.50
5/20/2026, 11:30:55 PM
2026-06-18
$7.00
5/20/2026, 11:30:55 PM
2026-06-26
$5.00
5/20/2026, 11:30:55 PM
2026-07-17
$8.00
5/20/2026, 11:30:55 PM
2026-08-21
$6.00
5/20/2026, 11:30:55 PM
2026-11-20
$5.00
5/20/2026, 11:30:55 PM
2027-01-15
$7.00
5/20/2026, 11:30:55 PM
Selected expiration: 2026-05-22 at max pain $7.50.
QS pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
2
0
4559050
4559050
2.5
1150
4116550
4117700
3
12450
3674050
3686500
3.5
29550
3231550
3261100
4
47050
2789050
2836100
4.5
69800
2346600
2416400
5
92800
1910700
2003500
5.5
115800
1478100
1593900
6
142400
1058300
1200700
6.5
176800
675850
852650
7
216650
344800
561450
7.5
306100
170550
476650
8
511700
79500
591200
8.5
1031250
34300
1065550
9
1838950
19600
1858550
9.5
3033050
13200
3046250
10
4332350
8250
4340600
10.5
5982250
3800
5986050
11
7656300
2850
7659150
11.5
9418050
1950
9420000
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.