Nearest listed expiration 2026-05-22 shows max pain at $31.00 (0.44 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$31.00
Nearest expiry
Expected Move
±$2.02
±6.6%
Days to Expiry
3
Calendar days
Total Call OI
136,657
Nearest expiry
Total Put OI
45,109
Nearest expiry
P/C OI Ratio
0.33
Put-heavy
Spot Price
$30.56
Published close
Consensus
8.5/10
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
$28.50
5/8/2026, 11:32:07 PM
2026-05-15
$31.00
5/15/2026, 11:41:29 PM
2026-05-22NextUpdated
$31.00
5/19/2026, 11:30:17 PM
2026-05-29
$30.00
5/19/2026, 11:30:17 PM
2026-06-05
$30.00
5/19/2026, 11:30:17 PM
2026-06-12
$30.00
5/19/2026, 11:30:17 PM
2026-06-18
$33.00
5/19/2026, 11:30:17 PM
2026-06-26
$29.50
5/19/2026, 11:30:17 PM
2026-07-17
$30.00
5/19/2026, 11:30:17 PM
2026-08-21
$31.00
5/19/2026, 11:30:17 PM
2026-09-18
$35.00
5/19/2026, 11:30:17 PM
2026-11-20
$27.00
5/19/2026, 11:30:17 PM
2026-12-18
$40.00
5/19/2026, 11:30:17 PM
2027-01-15
$35.00
5/19/2026, 11:30:17 PM
2027-03-19
$25.00
5/19/2026, 11:30:17 PM
Selected expiration: 2026-05-22 at max pain $31.00.
SMCI pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
92576000
92576000
10
2000
70425000
70427000
11
2600
66001100
66003700
12
3300
61577200
61580500
13
4100
57153300
57157400
14
6100
52729400
52735500
15
8600
48370400
48379000
16
11100
44018600
44029700
17
13700
39668700
39682400
18
16400
35374400
35390800
18.5
28900
33244750
33273650
19
47200
31157400
31204600
19.5
67050
29172450
29239500
20
88000
27217250
27305250
20.5
111650
25617700
25729350
21
136250
24020950
24157200
21.5
163500
22440600
22604100
22
193850
20878850
21072700
22.5
225200
19395950
19621150
23
257900
17924150
18182050
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.