This page reflects R 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 — R
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $230.00 (4.79 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$230.00
Nearest expiry
Expected Move
±$19.50
±8.3%
Days to Expiry
29
Calendar days
Total Call OI
209
Nearest expiry
Total Put OI
195
Nearest expiry
P/C OI Ratio
0.93
Put-heavy
Spot Price
$234.79
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
$200.00
4/17/2026, 11:30:19 PM
2026-05-15
$220.00
5/15/2026, 11:33:23 PM
2026-06-18NextUpdated
$230.00
5/20/2026, 11:26:45 PM
2026-07-17
$230.00
5/20/2026, 11:26:45 PM
2026-08-21
$195.00
5/20/2026, 11:26:45 PM
2026-11-20
$190.00
5/20/2026, 11:26:45 PM
Selected expiration: 2026-06-18 at max pain $230.00.
R pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
155
0
1299000
1299000
165
0
1104000
1104000
175
0
910000
910000
185
2000
719000
721000
195
4000
533000
537000
200
5500
441000
446500
210
8500
259000
267500
220
13500
117000
130500
230
20500
1000
21500
240
31500
0
31500
250
68500
0
68500
260
220500
0
220500
270
397500
0
397500
280
600500
0
600500
290
807500
0
807500
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.