This page reflects SMMT options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 19, 2026 close
Max Pain — SMMT
Data as of market close May 19, 2026
Nearest listed expiration 2026-05-22 shows max pain at $19.00 (3.15 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$19.00
Nearest expiry
Expected Move
±$0.80
±5.0%
Days to Expiry
3
Calendar days
Total Call OI
4,262
Nearest expiry
Total Put OI
3,141
Nearest expiry
P/C OI Ratio
0.74
Put-heavy
Spot Price
$15.85
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
$17.00
5/8/2026, 11:29:12 PM
2026-05-15
$20.00
5/15/2026, 11:35:06 PM
2026-05-22NextUpdated
$19.00
5/19/2026, 11:33:56 PM
2026-05-29
$18.00
5/19/2026, 11:33:56 PM
2026-06-05
$14.00
5/19/2026, 11:33:56 PM
2026-06-12
$17.00
5/19/2026, 11:33:56 PM
2026-06-18
$17.00
5/19/2026, 11:33:56 PM
2026-06-26
$17.00
5/19/2026, 11:33:56 PM
2026-07-17
$20.00
5/19/2026, 11:33:56 PM
2026-10-16
$16.00
5/19/2026, 11:33:56 PM
2027-01-15
$20.00
5/19/2026, 11:33:56 PM
Selected expiration: 2026-05-22 at max pain $19.00.
SMMT pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
3594650
3594650
8
300
2652950
2653250
9
800
2339150
2339950
10
1400
2025550
2026950
11
2500
1711950
1714450
12
3900
1398550
1402450
13
5600
1091950
1097550
13.5
6700
938650
945350
14
7900
785350
793250
14.5
9300
632700
642000
15
10700
480100
490800
15.5
12100
362400
374500
16
13500
245700
259200
16.5
14900
166200
181100
17
16700
121750
138450
17.5
20350
81150
101500
18
24000
52300
76300
18.5
32000
40350
72350
19
40450
28500
68950
19.5
51250
21700
72950
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.