This page reflects SITM 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 — SITM
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $750.00 (53.00 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$750.00
Nearest expiry
Expected Move
±$127.30
±18.3%
Days to Expiry
29
Calendar days
Total Call OI
707
Nearest expiry
Total Put OI
1,061
Nearest expiry
P/C OI Ratio
1.50
Put-heavy
Spot Price
$697.00
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
$350.00
4/17/2026, 11:28:41 PM
2026-05-15
$520.00
5/15/2026, 11:37:05 PM
2026-06-18NextUpdated
$750.00
5/20/2026, 11:34:22 PM
2026-07-17
$700.00
5/20/2026, 11:34:22 PM
2026-08-21
$400.00
5/20/2026, 11:34:22 PM
2026-11-20
$500.00
5/20/2026, 11:34:22 PM
Selected expiration: 2026-06-18 at max pain $750.00.
SITM pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
240
0
44524000
44524000
250
0
43467000
43467000
270
2000
41393000
41395000
280
3000
40357000
40360000
300
15000
38285000
38300000
310
21000
37256000
37277000
320
28000
36228000
36256000
330
36000
35200000
35236000
350
52000
33160000
33212000
370
68000
31166000
31234000
380
76000
30172000
30248000
390
84000
29181000
29265000
400
92000
28190000
28282000
410
100000
27210000
27310000
420
114000
26240000
26354000
430
129000
25273000
25402000
440
145000
24310000
24455000
450
162000
23349000
23511000
460
186000
22391000
22577000
470
210000
21435000
21645000
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.