This page reflects SBGI 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 — SBGI
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $12.50 (0.99 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$12.50
Nearest expiry
Expected Move
±$1.70
±12.6%
Days to Expiry
29
Calendar days
Total Call OI
735
Nearest expiry
Total Put OI
472
Nearest expiry
P/C OI Ratio
0.64
Put-heavy
Spot Price
$13.49
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
$15.00
4/17/2026, 11:32:00 PM
2026-05-15
$15.00
5/15/2026, 11:39:04 PM
2026-06-18NextUpdated
$12.50
5/20/2026, 11:31:27 PM
2026-09-18
$12.50
5/20/2026, 11:31:27 PM
2026-12-18
$12.50
5/20/2026, 11:31:27 PM
Selected expiration: 2026-06-18 at max pain $12.50.
SBGI pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
457000
457000
5
18250
339000
357250
7.5
58000
221000
279000
10
109500
128000
237500
12.5
175000
61500
236500
15
244000
5750
249750
17.5
364500
0
364500
20
516500
0
516500
22.5
696500
0
696500
25
876750
0
876750
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.