This page reflects SANM 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 — SANM
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $210.00 (21.18 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$210.00
Nearest expiry
Expected Move
±$37.30
±16.1%
Days to Expiry
29
Calendar days
Total Call OI
3,174
Nearest expiry
Total Put OI
1,833
Nearest expiry
P/C OI Ratio
0.58
Put-heavy
Spot Price
$231.18
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
$120.00
4/17/2026, 11:25:47 PM
2026-05-15
$145.00
5/15/2026, 11:35:58 PM
2026-06-18NextUpdated
$210.00
5/20/2026, 11:30:47 PM
2026-07-17
$150.00
5/20/2026, 11:30:47 PM
2026-10-16
$145.00
5/20/2026, 11:30:47 PM
Selected expiration: 2026-06-18 at max pain $210.00.
SANM pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
90
0
19813000
19813000
95
1000
18896500
18897500
100
2500
17980000
17982500
105
4500
17063500
17068000
115
13500
15230500
15244000
120
19500
14314000
14333500
125
25500
13398500
13424000
130
31500
12483000
12514500
135
38000
11570500
11608500
145
52000
9748500
9800500
150
59000
8838000
8897000
155
68500
7932500
8001000
160
78500
7032000
7110500
165
104500
6133000
6237500
170
154500
5276000
5430500
175
213500
4424500
4638000
180
273500
3575500
3849000
185
362000
2961000
3323000
190
456000
2505000
2961000
195
657000
2061000
2718000
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.