This page reflects TEL 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 — TEL
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $210.00 (8.61 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$210.00
Nearest expiry
Expected Move
±$18.75
±9.3%
Days to Expiry
29
Calendar days
Total Call OI
1,119
Nearest expiry
Total Put OI
2,668
Nearest expiry
P/C OI Ratio
2.38
Put-heavy
Spot Price
$201.39
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
$230.00
4/17/2026, 11:26:40 PM
2026-05-15
$230.00
5/15/2026, 11:40:40 PM
2026-06-18NextUpdated
$210.00
5/20/2026, 11:32:47 PM
2026-07-17
$220.00
5/20/2026, 11:32:47 PM
2026-08-21
$200.00
5/20/2026, 11:32:47 PM
2026-09-18
$230.00
5/20/2026, 11:32:47 PM
2026-10-16
$200.00
5/20/2026, 11:32:47 PM
2026-11-20
$210.00
5/20/2026, 11:32:47 PM
2026-12-18
$200.00
5/20/2026, 11:32:47 PM
Selected expiration: 2026-06-18 at max pain $210.00.
TEL pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
120
0
19318000
19318000
125
0
17984500
17984500
130
0
16651500
16651500
135
0
15319000
15319000
140
0
13987000
13987000
145
0
12655500
12655500
150
0
11324500
11324500
155
0
9994000
9994000
160
0
8664500
8664500
165
0
7336500
7336500
170
0
6011000
6011000
175
0
4692000
4692000
180
0
3389500
3389500
185
500
2110000
2110500
190
1000
1127000
1128000
195
1500
261500
263000
200
3000
186000
189000
210
53000
77000
130000
220
145000
31000
176000
230
328000
7000
335000
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.