This page reflects SOC 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 — SOC
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $13.50 (1.55 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$13.50
Nearest expiry
Expected Move
±$1.22
±8.1%
Days to Expiry
2
Calendar days
Total Call OI
4,616
Nearest expiry
Total Put OI
1,445
Nearest expiry
P/C OI Ratio
0.31
Put-heavy
Spot Price
$15.05
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
$13.00
5/8/2026, 11:29:37 PM
2026-05-15
$13.00
5/15/2026, 11:37:48 PM
2026-05-22NextUpdated
$13.50
5/20/2026, 11:31:21 PM
2026-05-29
$13.50
5/20/2026, 11:31:21 PM
2026-06-05
$15.00
5/20/2026, 11:31:21 PM
2026-06-12
$16.00
5/20/2026, 11:31:21 PM
2026-06-18
$14.00
5/20/2026, 11:31:21 PM
2026-06-26
$12.00
5/20/2026, 11:31:21 PM
2026-07-17
$11.00
5/20/2026, 11:31:21 PM
2026-10-16
$15.00
5/20/2026, 11:31:21 PM
2027-01-15
$17.50
5/20/2026, 11:31:21 PM
Selected expiration: 2026-05-22 at max pain $13.50.
SOC pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
2
0
1599700
1599700
3
1500
1455200
1456700
4
3200
1310700
1313900
5
5500
1166200
1171700
6
8100
1021700
1029800
7
11000
877200
888200
8
14200
733100
747300
8.5
15900
661500
677400
9
17700
589950
607650
9.5
19650
519400
539050
10
22050
449050
471100
10.5
26600
386900
413500
11
31800
326600
358400
11.5
38600
273450
312050
12
45900
222150
268050
12.5
55700
174900
230600
13
69150
130650
199800
13.5
86300
98100
184400
14
109950
78400
188350
14.5
138100
62050
200150
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.