This page reflects SGHC 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 — SGHC
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $10.00 (3.74 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$10.00
Nearest expiry
Expected Move
±$0.72
±5.3%
Days to Expiry
29
Calendar days
Total Call OI
15,955
Nearest expiry
Total Put OI
571
Nearest expiry
P/C OI Ratio
0.04
Put-heavy
Spot Price
$13.74
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
$9.75
4/17/2026, 11:27:21 PM
2026-05-15
$9.00
5/15/2026, 11:35:18 PM
2026-06-18NextUpdated
$10.00
5/20/2026, 11:31:40 PM
2026-07-17
$9.75
5/20/2026, 11:31:40 PM
2026-10-16
$12.00
5/20/2026, 11:31:40 PM
2026-12-18
$9.75
5/20/2026, 11:31:40 PM
Selected expiration: 2026-06-18 at max pain $10.00.
SGHC pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
3
0
479800
479800
4
0
422700
422700
5
0
365600
365600
6
100
308500
308600
7
200
251400
251600
8
500
194300
194800
9
900
140500
141400
10
1600
91600
93200
11
63500
45600
109100
12
126900
18800
145700
13
838900
500
839400
14
2340400
400
2340800
15
3878800
300
3879100
16
5457800
200
5458000
17
7039900
100
7040000
18
8630800
0
8630800
19
10226300
0
10226300
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.