This page reflects SBET 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 — SBET
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $7.00 (0.67 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$7.00
Nearest expiry
Expected Move
±$0.48
±7.6%
Days to Expiry
2
Calendar days
Total Call OI
19,573
Nearest expiry
Total Put OI
24,694
Nearest expiry
P/C OI Ratio
1.26
Put-heavy
Spot Price
$6.33
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, 11:28:52 PM
2026-05-15
$7.00
5/15/2026, 11:34:41 PM
2026-05-22NextUpdated
$7.00
5/20/2026, 11:31:52 PM
2026-05-29
$7.00
5/20/2026, 11:31:52 PM
2026-06-05
$7.50
5/20/2026, 11:31:52 PM
2026-06-12
$7.00
5/20/2026, 11:31:52 PM
2026-06-18
$7.00
5/20/2026, 11:31:52 PM
2026-06-26
$7.00
5/20/2026, 11:31:52 PM
2026-07-17
$8.00
5/20/2026, 11:31:52 PM
2026-10-16
$8.00
5/20/2026, 11:31:52 PM
2027-01-15
$13.00
5/20/2026, 11:31:52 PM
Selected expiration: 2026-05-22 at max pain $7.00.
SBET pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
2
0
11559300
11559300
2.5
200
10324600
10324800
3
550
9089950
9090500
3.5
1050
7855350
7856400
4
1700
6620800
6622500
4.5
2500
5386350
5388850
5
3450
4155400
4158850
5.5
4450
2941450
2945900
6
6650
1732050
1738700
6.5
18700
795700
814400
7
107850
131300
239150
7.5
369250
78100
447350
8
894350
63550
957900
8.5
1502700
56600
1559300
9
2180100
49900
2230000
9.5
3058650
43350
3102000
10
3957350
37200
3994550
10.5
4891400
31050
4922450
11
5827450
24900
5852350
11.5
6767250
18750
6786000
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.