This page reflects TFC 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 — TFC
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $50.00 (2.00 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$50.00
Nearest expiry
Expected Move
±$3.03
±6.3%
Days to Expiry
29
Calendar days
Total Call OI
24,125
Nearest expiry
Total Put OI
32,329
Nearest expiry
P/C OI Ratio
1.34
Put-heavy
Spot Price
$48.00
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
$47.50
4/17/2026, 11:28:59 PM
2026-05-15
$50.00
5/15/2026, 11:40:35 PM
2026-06-18NextUpdated
$50.00
5/20/2026, 11:34:39 PM
2026-07-17
$50.00
5/20/2026, 11:34:39 PM
2026-08-21
$45.00
5/20/2026, 11:34:39 PM
2026-09-18
$47.50
5/20/2026, 11:34:39 PM
2026-10-16
$45.00
5/20/2026, 11:34:39 PM
2026-11-20
$40.00
5/20/2026, 11:34:39 PM
2026-12-18
$50.00
5/20/2026, 11:34:39 PM
2027-01-15
$47.50
5/20/2026, 11:34:39 PM
2027-03-19
$45.00
5/20/2026, 11:34:39 PM
Selected expiration: 2026-06-18 at max pain $50.00.
TFC pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
77259750
77259750
22.5
0
69177500
69177500
25
250
61095250
61095500
27.5
5250
53013000
53018250
30
10750
44971750
44982500
32.5
16250
36995250
37011500
35
23250
29150500
29173750
37.5
31500
22153750
22185250
40
40000
15463500
15503500
42.5
49250
10771000
10820250
45
59750
6427250
6487000
47.5
449250
2861500
3310750
50
1466500
237250
1703750
52.5
3253000
10000
3263000
55
6217000
7000
6224000
57.5
10642750
5250
10648000
60
15590000
3500
15593500
62.5
20813000
1750
20814750
65
26036000
0
26036000
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.