This page reflects SPIR options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 21, 2026 close
Max Pain — SPIR
Data as of market close May 21, 2026
Nearest listed expiration 2026-06-18 shows max pain at $18.00 (1.21 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$18.00
Nearest expiry
Expected Move
±$4.03
±20.9%
Days to Expiry
28
Calendar days
Total Call OI
3,253
Nearest expiry
Total Put OI
1,521
Nearest expiry
P/C OI Ratio
0.47
Put-heavy
Spot Price
$19.21
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
$16.00
4/17/2026, 11:29:42 PM
2026-05-15
$14.00
5/15/2026, 11:39:32 PM
2026-06-18NextUpdated
$18.00
5/21/2026, 11:31:32 PM
2026-07-17
$14.00
5/21/2026, 11:31:32 PM
2026-08-21
$11.00
5/21/2026, 11:31:32 PM
2026-11-20
$18.00
5/21/2026, 11:31:32 PM
2027-01-15
$13.00
5/21/2026, 11:31:32 PM
Selected expiration: 2026-06-18 at max pain $18.00.
SPIR pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
7
0
1294800
1294800
10
0
838800
838800
11
900
687100
688000
12
2100
537000
539100
13
17300
427900
445200
14
32500
320100
352600
15
51400
220400
271800
16
71000
129800
200800
17
94100
80300
174400
18
123200
39600
162800
19
167800
19900
187700
20
217900
3500
221400
21
311000
200
311200
22
434700
0
434700
23
574200
0
574200
24
793100
0
793100
25
1022800
0
1022800
26
1326900
0
1326900
27
1635500
0
1635500
28
1951300
0
1951300
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.