This page reflects TE 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 — TE
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $6.50 (2.20 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$6.50
Nearest expiry
Expected Move
±$0.77
±8.9%
Days to Expiry
2
Calendar days
Total Call OI
36,099
Nearest expiry
Total Put OI
9,360
Nearest expiry
P/C OI Ratio
0.26
Put-heavy
Spot Price
$8.70
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
$5.00
5/8/2026, 11:33:19 PM
2026-05-15
$5.50
5/15/2026, 11:38:28 PM
2026-05-22NextUpdated
$6.50
5/20/2026, 11:37:22 PM
2026-05-29
$6.00
5/20/2026, 11:37:22 PM
2026-06-05
$5.50
5/20/2026, 11:37:22 PM
2026-06-12
$6.00
5/20/2026, 11:37:22 PM
2026-06-18
$6.00
5/20/2026, 11:37:22 PM
2026-06-26
$3.50
5/20/2026, 11:37:22 PM
2026-07-17
$6.00
5/20/2026, 11:37:22 PM
2026-08-21
$5.00
5/20/2026, 11:37:22 PM
2026-09-18
$5.00
5/20/2026, 11:37:22 PM
2026-10-16
$5.00
5/20/2026, 11:37:22 PM
2026-12-18
$4.00
5/20/2026, 11:37:22 PM
2027-01-15
$3.00
5/20/2026, 11:37:22 PM
Selected expiration: 2026-05-22 at max pain $6.50.
TE pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
5229750
5229750
1
850
4762450
4763300
1.5
3550
4296000
4299550
2
8250
3829850
3838100
2.5
13800
3363700
3377500
3
19650
2897650
2917300
3.5
27550
2431800
2459350
4
36000
1967300
2003300
4.5
45250
1507950
1553200
5
57000
1058250
1115250
5.5
81850
660100
741950
6
129900
291700
421600
6.5
276950
99700
376650
7
523950
14750
538700
7.5
1798050
11000
1809050
8
3437350
7550
3444900
8.5
5189300
4100
5193400
9
6970650
650
6971300
9.5
8773000
250
8773250
10
10577950
0
10577950
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.