This page reflects SNDX 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 — SNDX
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $20.00 (0.13 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$20.00
Nearest expiry
Expected Move
±$3.10
±15.4%
Days to Expiry
29
Calendar days
Total Call OI
9,232
Nearest expiry
Total Put OI
3,684
Nearest expiry
P/C OI Ratio
0.40
Put-heavy
Spot Price
$20.13
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
$19.00
4/17/2026, 11:26:14 PM
2026-05-15
$21.00
5/15/2026, 11:36:45 PM
2026-06-18NextUpdated
$20.00
5/20/2026, 11:29:20 PM
2026-07-17
$18.00
5/20/2026, 11:29:20 PM
2026-08-21
$21.00
5/20/2026, 11:29:20 PM
2026-09-18
$22.00
5/20/2026, 11:29:20 PM
2026-10-16
$23.00
5/20/2026, 11:29:20 PM
2027-01-15
$15.00
5/20/2026, 11:29:20 PM
Selected expiration: 2026-06-18 at max pain $20.00.
SNDX pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
850600
850600
16
3600
482200
485800
17
7200
213800
221000
18
10800
46800
57600
19
17400
31200
48600
20
26400
15600
42000
21
89600
12400
102000
22
158300
10200
168500
23
230600
8000
238600
24
611700
7300
619000
25
1148200
6600
1154800
26
1700800
5900
1706700
27
2253800
5200
2259000
28
2807300
4500
2811800
29
3370800
3800
3374600
30
4136500
3100
4139600
34
7829300
700
7830000
35
8752500
400
8752900
37
10598900
0
10598900
38
11522100
0
11522100
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.