This page reflects SIG 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 — SIG
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $81.00 (2.48 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$81.00
Nearest expiry
Expected Move
±$1.60
±2.0%
Days to Expiry
2
Calendar days
Total Call OI
398
Nearest expiry
Total Put OI
488
Nearest expiry
P/C OI Ratio
1.23
Put-heavy
Spot Price
$78.52
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
$87.00
5/8/2026, 11:29:00 PM
2026-05-15
$85.00
5/15/2026, 11:36:40 PM
2026-05-22NextUpdated
$81.00
5/20/2026, 11:35:38 PM
2026-05-29
$85.00
5/20/2026, 11:35:38 PM
2026-06-05
$83.00
5/20/2026, 11:35:38 PM
2026-06-12
$76.00
5/20/2026, 11:35:38 PM
2026-06-18
$75.00
5/20/2026, 11:35:38 PM
2026-06-26
$78.00
5/20/2026, 11:35:38 PM
2026-07-17
$85.00
5/20/2026, 11:35:38 PM
2026-10-16
$95.00
5/20/2026, 11:35:38 PM
2027-01-15
$75.00
5/20/2026, 11:35:38 PM
Selected expiration: 2026-05-22 at max pain $81.00.
SIG pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
55
0
864600
864600
60
0
620600
620600
65
0
376600
376600
68
0
236500
236500
69
0
191800
191800
70
100
147400
147500
71
300
129300
129600
72
600
111400
112000
73
900
93900
94800
74
1200
77100
78300
75
1500
61700
63200
76
2100
49500
51600
77
3400
38200
41600
78
4700
27400
32100
79
6000
18000
24000
80
7300
13300
20600
81
9100
10100
19200
82
36700
8000
44700
83
64700
6200
70900
84
92900
4500
97400
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.