What is SHOP max pain this week?

SHOP max pain for the nearest expiration (2026-05-22) is $102.00. Total call open interest: 30,697. Total put open interest: 20,865.

What is max pain in options?

Max pain is the strike price where option holders (buyers of both puts and calls) would collectively lose the most money at expiration. It represents the point of maximum financial pain for option buyers, and theory suggests stock prices tend to gravitate toward max pain as expiration approaches.

Home Options SHOPMax Pain

SHOP

Shopify Inc.Close $105.01EOD only

Max Pain

$102.00

Next expiry May 22, 2026

Expected Move

±$4.08

3.9% from close

Price Gap

-3.01

Distance to max pain

IV Rank

Low premium

P/C OI

0.45

Slightly call-heavy

Consensus

4/4

Partial coverage

Published snapshot: May 20, 2026 close

End-of-day snapshot

This page reflects SHOP 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 — SHOP

Data as of market close May 20, 2026

Open Available Reports (4/4)

Nearest listed expiration 2026-05-22 shows max pain at $102.00 (3.01 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike

$102.00

Nearest expiry

Expected Move

±$4.08

±3.9%

Days to Expiry

Calendar days

Total Call OI

30,697

Nearest expiry

Total Put OI

20,865

Nearest expiry

P/C OI Ratio

0.68

Put-heavy

Spot Price

$105.01

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	$110.00	5/8/2026, 11:28:55 PM
2026-05-15	$97.00	5/15/2026, 11:36:34 PM
2026-05-22NextUpdated	$102.00	5/20/2026, 11:30:39 PM
2026-05-29	$105.00	5/20/2026, 11:30:39 PM
2026-06-05	$105.00	5/20/2026, 11:30:39 PM
2026-06-12	$100.00	5/20/2026, 11:30:39 PM
2026-06-18	$100.00	5/20/2026, 11:30:39 PM
2026-06-26	$100.00	5/20/2026, 11:30:39 PM
2026-07-17	$110.00	5/20/2026, 11:30:39 PM
2026-09-18	$100.00	5/20/2026, 11:30:39 PM
2026-10-16	$115.00	5/20/2026, 11:30:39 PM
2026-11-20	$110.00	5/20/2026, 11:30:39 PM
2026-12-18	$125.00	5/20/2026, 11:30:39 PM
2027-01-15	$130.00	5/20/2026, 11:30:39 PM
2027-03-19	$120.00	5/20/2026, 11:30:39 PM

Selected expiration: 2026-05-22 at max pain $102.00.

SHOP pain by strike for 2026-05-22 expiration
Strike	Call Pain	Put Pain	Total Pain
60	0	68948300	68948300
65	1500	58555800	58557300
70	5000	48326800	48331800
75	9500	38115800	38125300
80	36500	28869300	28905800
82	48100	25242500	25290600
83	53900	23429700	23483600
84	59700	21618200	21677900
85	65500	19810600	19876100
86	71900	18027100	18099000
87	78500	16246700	16325200
88	85800	14789400	14875200
89	93300	13344100	13437400
90	102800	11916400	12019200
91	120300	10547700	10668000
92	143600	9201100	9344700
93	169500	8131700	8301200
94	195700	7079800	7275500
95	223100	6072300	6295400
96	287100	5270400	5557500

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.