This page reflects SHEL 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 — SHEL
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $87.00 (0.28 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$87.00
Nearest expiry
Expected Move
±$2.08
±2.4%
Days to Expiry
2
Calendar days
Total Call OI
3,153
Nearest expiry
Total Put OI
816
Nearest expiry
P/C OI Ratio
0.26
Put-heavy
Spot Price
$86.72
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
$86.00
5/8/2026, 11:28:28 PM
2026-05-15
$87.50
5/15/2026, 11:35:14 PM
2026-05-22NextUpdated
$87.00
5/20/2026, 11:33:09 PM
2026-05-29
$87.00
5/20/2026, 11:33:09 PM
2026-06-05
$87.00
5/20/2026, 11:33:09 PM
2026-06-12
$86.00
5/20/2026, 11:33:09 PM
2026-06-18
$80.00
5/20/2026, 11:33:09 PM
2026-06-26
$75.00
5/20/2026, 11:33:09 PM
2026-07-17
$87.50
5/20/2026, 11:33:09 PM
2026-09-18
$80.00
5/20/2026, 11:33:09 PM
2026-10-16
$82.50
5/20/2026, 11:33:09 PM
2026-12-18
$77.50
5/20/2026, 11:33:09 PM
2027-01-15
$62.50
5/20/2026, 11:33:09 PM
2027-03-19
$82.50
5/20/2026, 11:33:09 PM
Selected expiration: 2026-05-22 at max pain $87.00.
SHEL pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
1880100
1880100
70
2000
1085100
1087100
75
3000
690100
693100
76
8200
611100
619300
77
13400
533600
547000
78
18700
456100
474800
79
24000
381100
405100
80
29500
311700
341200
81
35000
247300
282300
82
40500
188200
228700
83
46000
140600
186600
84
52700
104500
157200
85
60300
75700
136000
86
69200
53700
122900
87
84500
33000
117500
88
115100
14000
129100
89
349800
5800
355600
90
604800
200
605000
91
880800
0
880800
92
1160900
0
1160900
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.