What is SPOT max pain this week?

SPOT max pain for the nearest expiration (2026-05-22) is $440.00. Total call open interest: 6,685. Total put open interest: 6,672.

What is max pain in options?

Max pain is the strike price where option holders (buyers of both puts and calls) would collectively lose the most money at expiration. It represents the point of maximum financial pain for option buyers, and theory suggests stock prices tend to gravitate toward max pain as expiration approaches.

Home Options SPOTMax Pain

SPOT

Spotify Technology S.A.Close $433.32EOD only

Max Pain

$440.00

Next expiry May 22, 2026

Expected Move

±$25.02

5.8% from close

Price Gap

+6.68

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.17

Slightly put-heavy

Consensus

4/4

Partial coverage

Published snapshot: May 20, 2026 close

End-of-day snapshot

This page reflects SPOT 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 — SPOT

Data as of market close May 20, 2026

Open Available Reports (4/4)

Nearest listed expiration 2026-05-22 shows max pain at $440.00 (6.68 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike

$440.00

Nearest expiry

Expected Move

±$25.02

±5.8%

Days to Expiry

Calendar days

Total Call OI

6,685

Nearest expiry

Total Put OI

6,672

Nearest expiry

P/C OI Ratio

1.00

Put-heavy

Spot Price

$433.32

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	$435.00	5/8/2026, 11:30:03 PM
2026-05-15	$435.00	5/15/2026, 11:38:12 PM
2026-05-22NextUpdated	$440.00	5/20/2026, 11:32:11 PM
2026-05-29	$430.00	5/20/2026, 11:32:11 PM
2026-06-05	$430.00	5/20/2026, 11:32:11 PM
2026-06-12	$430.00	5/20/2026, 11:32:11 PM
2026-06-18	$470.00	5/20/2026, 11:32:11 PM
2026-06-26	$405.00	5/20/2026, 11:32:11 PM
2026-07-17	$470.00	5/20/2026, 11:32:11 PM
2026-08-21	$500.00	5/20/2026, 11:32:11 PM
2026-09-18	$550.00	5/20/2026, 11:32:11 PM
2026-10-16	$470.00	5/20/2026, 11:32:11 PM
2026-12-18	$520.00	5/20/2026, 11:32:11 PM
2027-01-15	$550.00	5/20/2026, 11:32:11 PM
2027-03-19	$490.00	5/20/2026, 11:32:11 PM

Selected expiration: 2026-05-22 at max pain $440.00.

SPOT pain by strike for 2026-05-22 expiration
Strike	Call Pain	Put Pain	Total Pain
300	0	72831000	72831000
310	0	66411000	66411000
320	1000	59991000	59992000
325	2500	56907500	56910000
330	4500	53834000	53838500
340	21500	47939000	47960500
345	31000	45028500	45059500
347.5	35750	43575000	43610750
350	41250	42122250	42163500
352.5	48000	40715750	40763750
355	56000	39310500	39366500
360	73000	36500000	36573000
362.5	81750	35123500	35205250
365	90500	33750750	33841250
367.5	99250	32381000	32480250
370	108000	31011500	31119500
372.5	117000	29649500	29766500
375	126000	28290750	28416750
377.5	135500	26947750	27083250
380	145000	25609000	25754000

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.