This page reflects SJM 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 — SJM
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $100.00 (0.48 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$100.00
Nearest expiry
Expected Move
±$7.10
±7.1%
Days to Expiry
29
Calendar days
Total Call OI
9,954
Nearest expiry
Total Put OI
2,261
Nearest expiry
P/C OI Ratio
0.23
Put-heavy
Spot Price
$100.48
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
$95.00
4/17/2026, 11:27:32 PM
2026-05-15
$100.00
5/15/2026, 11:40:40 PM
2026-06-18NextUpdated
$100.00
5/20/2026, 11:29:06 PM
2026-07-17
$100.00
5/20/2026, 11:29:06 PM
2026-09-18
$95.00
5/20/2026, 11:29:06 PM
2026-10-16
$100.00
5/20/2026, 11:29:06 PM
2027-01-15
$100.00
5/20/2026, 11:29:06 PM
Selected expiration: 2026-06-18 at max pain $100.00.
SJM pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
45
0
10964500
10964500
55
1000
8704500
8705500
60
1500
7574500
7576000
65
2000
6448000
6450000
70
2500
5339000
5341500
75
6000
4240500
4246500
80
9500
3225500
3235000
85
13000
2269000
2282000
90
16500
1406500
1423000
95
31000
703500
734500
100
209000
317500
526500
105
1019000
156000
1175000
110
2489500
48000
2537500
115
6201000
9500
6210500
120
10062500
5500
10068000
125
14955500
1500
14957000
130
19907000
0
19907000
135
24858500
0
24858500
140
29814000
0
29814000
145
34772500
0
34772500
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.