This page reflects REPL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 19, 2026 close
Max Pain — REPL
Data as of market close May 19, 2026
Nearest listed expiration 2026-05-22 shows max pain at $5.00 (0.30 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$5.00
Nearest expiry
Expected Move
±$0.78
±16.5%
Days to Expiry
3
Calendar days
Total Call OI
2,876
Nearest expiry
Total Put OI
2,190
Nearest expiry
P/C OI Ratio
0.76
Put-heavy
Spot Price
$4.70
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
$2.50
5/8/2026, 11:27:42 PM
2026-05-15
$4.00
5/15/2026, 11:33:44 PM
2026-05-22NextUpdated
$5.00
5/19/2026, 11:26:37 PM
2026-05-29
$2.00
5/19/2026, 11:26:37 PM
2026-06-05
$3.00
5/19/2026, 11:26:37 PM
2026-06-12
$4.00
5/19/2026, 11:26:37 PM
2026-06-18
$4.00
5/19/2026, 11:26:37 PM
2026-06-26
$4.00
5/19/2026, 11:26:37 PM
2026-07-17
$5.00
5/19/2026, 11:26:37 PM
2026-08-21
$2.00
5/19/2026, 11:26:37 PM
2026-11-20
$1.00
5/19/2026, 11:26:37 PM
2027-01-15
$2.00
5/19/2026, 11:26:37 PM
Selected expiration: 2026-05-22 at max pain $5.00.
REPL pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
877800
877800
1
100
768300
768400
1.5
650
663700
664350
2
1450
559100
560550
2.5
7850
459250
467100
3
15850
360600
376450
3.5
36800
262650
299450
4
67950
166550
234500
4.5
114650
73850
188500
5
167250
4350
171600
5.5
233800
3000
236800
6
359450
2700
362150
6.5
496850
2450
499300
7
634300
2200
636500
8
913800
1700
915500
9
1193500
1300
1194800
10
1474500
900
1475400
11
1760500
500
1761000
12
2046500
300
2046800
13
2333800
100
2333900
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.