This page reflects THC 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 — THC
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $195.00 (7.59 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$195.00
Nearest expiry
Expected Move
±$18.25
±9.7%
Days to Expiry
29
Calendar days
Total Call OI
3,713
Nearest expiry
Total Put OI
1,699
Nearest expiry
P/C OI Ratio
0.46
Put-heavy
Spot Price
$187.41
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
$195.00
4/17/2026, 11:30:42 PM
2026-05-15
$190.00
5/15/2026, 11:39:39 PM
2026-06-18NextUpdated
$195.00
5/20/2026, 11:37:44 PM
2026-07-17
$200.00
5/20/2026, 11:37:44 PM
2026-08-21
$210.00
5/20/2026, 11:37:44 PM
2026-11-20
$220.00
5/20/2026, 11:37:44 PM
2026-12-18
$125.00
5/20/2026, 11:37:44 PM
2027-01-15
$185.00
5/20/2026, 11:37:44 PM
Selected expiration: 2026-06-18 at max pain $195.00.
THC pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
17949500
17949500
65
0
17100000
17100000
70
500
16250500
16251000
80
1500
14571500
14573000
95
3000
12126500
12129500
100
3500
11312000
11315500
105
6500
10500000
10506500
110
9500
9689000
9698500
115
13000
8938000
8951000
120
16500
8198000
8214500
125
21000
7458000
7479000
130
25500
6718000
6743500
135
31000
5978500
6009500
140
36500
5256500
5293000
145
47000
4544500
4591500
150
58500
3869000
3927500
155
82500
3302500
3385000
160
106500
2766000
2872500
165
135500
2273500
2409000
170
172000
1788000
1960000
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.