This page reflects STM 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 — STM
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $60.00 (4.93 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$60.00
Nearest expiry
Expected Move
±$3.00
±4.6%
Days to Expiry
2
Calendar days
Total Call OI
13,175
Nearest expiry
Total Put OI
1,355
Nearest expiry
P/C OI Ratio
0.10
Put-heavy
Spot Price
$64.93
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
$55.00
5/8/2026, 11:33:26 PM
2026-05-15
$35.00
5/15/2026, 11:38:59 PM
2026-05-22NextUpdated
$60.00
5/20/2026, 11:28:18 PM
2026-05-29
$56.00
5/20/2026, 11:28:18 PM
2026-06-05
$59.00
5/20/2026, 11:28:18 PM
2026-06-12
$60.00
5/20/2026, 11:28:18 PM
2026-06-18
$39.00
5/20/2026, 11:28:18 PM
2026-06-26
$57.00
5/20/2026, 11:28:18 PM
2026-07-17
$48.00
5/20/2026, 11:28:18 PM
2026-08-21
$41.00
5/20/2026, 11:28:18 PM
2026-10-16
$45.00
5/20/2026, 11:28:18 PM
2026-11-20
$37.00
5/20/2026, 11:28:18 PM
2027-01-15
$35.00
5/20/2026, 11:28:18 PM
Selected expiration: 2026-05-22 at max pain $60.00.
STM pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
2268450
2268450
44
3200
1726450
1729650
47
6200
1319950
1326150
47.5
6700
1252250
1258950
48
7200
1184600
1191800
49
8200
1049600
1057800
49.5
8700
982850
991550
50
9200
916150
925350
51
10700
783150
793850
52
12200
650250
662450
52.5
13700
588400
602100
53
15450
527150
542600
53.5
17250
466300
483550
54
19050
415800
434850
54.5
20850
375550
396400
55
22650
336600
359250
55.5
25650
301400
327050
56
28950
269250
298200
56.5
34500
240550
275050
57
40600
213900
254500
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.