This page reflects TLN options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 21, 2026 close
Max Pain — TLN
Data as of market close May 21, 2026
Nearest listed expiration 2026-05-22 shows max pain at $340.00 (20.48 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$340.00
Nearest expiry
Expected Move
±$4.42
±1.2%
Days to Expiry
1
Calendar days
Total Call OI
2,443
Nearest expiry
Total Put OI
1,693
Nearest expiry
P/C OI Ratio
0.69
Put-heavy
Spot Price
$360.48
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
$380.00
5/8/2026, 11:33:27 PM
2026-05-15
$350.00
5/15/2026, 11:40:48 PM
2026-05-22NextUpdated
$340.00
5/21/2026, 11:39:55 PM
2026-05-29
$350.00
5/21/2026, 11:39:55 PM
2026-06-05
$365.00
5/21/2026, 11:39:55 PM
2026-06-12
$350.00
5/21/2026, 11:39:55 PM
2026-06-18
$350.00
5/21/2026, 11:39:55 PM
2026-06-26
$310.00
5/21/2026, 11:39:55 PM
2026-07-17
$310.00
5/21/2026, 11:39:55 PM
2026-08-21
$330.00
5/21/2026, 11:39:55 PM
2026-09-18
$350.00
5/21/2026, 11:39:55 PM
2026-10-16
$350.00
5/21/2026, 11:39:55 PM
2026-11-20
$350.00
5/21/2026, 11:39:55 PM
2026-12-18
$370.00
5/21/2026, 11:39:55 PM
2027-01-15
$310.00
5/21/2026, 11:39:55 PM
2027-03-19
$350.00
5/21/2026, 11:39:55 PM
Selected expiration: 2026-05-22 at max pain $340.00.
TLN pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
220
0
13341250
13341250
240
2000
9957250
9959250
245
2500
9125750
9128250
250
3000
8294750
8297750
255
3500
7464750
7468250
260
4000
6634750
6638750
265
4500
5805250
5809750
270
5000
4976250
4981250
275
5500
4156250
4161750
280
6000
3454750
3460750
285
6500
2854750
2861250
290
7000
2256250
2263250
295
8000
1745250
1753250
300
9000
1406250
1415250
305
11000
1202250
1213250
310
13000
1002750
1015750
315
15500
808750
824250
320
18000
632750
650750
325
31500
461250
492750
327.5
38250
377000
415250
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.