This page reflects SFM 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 — SFM
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $75.00 (13.46 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$75.00
Nearest expiry
Expected Move
±$9.05
±10.2%
Days to Expiry
29
Calendar days
Total Call OI
18,229
Nearest expiry
Total Put OI
5,410
Nearest expiry
P/C OI Ratio
0.30
Put-heavy
Spot Price
$88.46
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
$75.00
4/17/2026, 11:29:28 PM
2026-05-15
$75.00
5/15/2026, 11:33:45 PM
2026-06-18NextUpdated
$75.00
5/20/2026, 11:30:13 PM
2026-07-17
$80.00
5/20/2026, 11:30:13 PM
2026-08-21
$85.00
5/20/2026, 11:30:13 PM
2026-09-18
$85.00
5/20/2026, 11:30:13 PM
2026-12-18
$85.00
5/20/2026, 11:30:13 PM
2027-01-15
$85.00
5/20/2026, 11:30:13 PM
Selected expiration: 2026-06-18 at max pain $75.00.
SFM pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
16026500
16026500
45
11500
13348500
13360000
50
23000
10693000
10716000
55
36000
8119000
8155000
60
49000
5965500
6014500
65
81500
4093500
4175000
70
160500
2703500
2864000
75
398500
1720000
2118500
80
1115000
1127500
2242500
85
2386000
744000
3130000
90
4360000
492000
4852000
95
7798000
276500
8074500
100
11704500
77000
11781500
105
16256500
70000
16326500
110
22594500
63500
22658000
115
30652500
57500
30710000
120
38774000
51500
38825500
125
47019000
46000
47065000
130
55264000
41000
55305000
135
63929500
36000
63965500
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.