This page reflects TLRY 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 — TLRY
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $5.50 (0.09 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$5.50
Nearest expiry
Expected Move
±$0.25
±4.6%
Days to Expiry
2
Calendar days
Total Call OI
8,360
Nearest expiry
Total Put OI
4,518
Nearest expiry
P/C OI Ratio
0.54
Put-heavy
Spot Price
$5.41
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
$6.00
5/8/2026, 11:32:00 PM
2026-05-15
$6.00
5/15/2026, 11:39:08 PM
2026-05-22NextUpdated
$5.50
5/20/2026, 11:35:15 PM
2026-05-29
$5.50
5/20/2026, 11:35:15 PM
2026-06-05
$6.00
5/20/2026, 11:35:15 PM
2026-06-12
$6.00
5/20/2026, 11:35:15 PM
2026-06-18
$1.50
5/20/2026, 11:35:15 PM
2026-06-26
$5.00
5/20/2026, 11:35:15 PM
2026-07-17
$6.00
5/20/2026, 11:35:15 PM
2026-09-18
$6.00
5/20/2026, 11:35:15 PM
2026-12-18
$6.00
5/20/2026, 11:35:15 PM
2027-01-15
$0.50
5/20/2026, 11:35:15 PM
Selected expiration: 2026-05-22 at max pain $5.50.
TLRY pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
1916850
1916850
2
300
1465050
1465350
2.5
650
1239150
1239800
3
1150
1013250
1014400
3.5
1900
787400
789300
4
2750
561550
564300
4.5
3700
336050
339750
5
5300
142450
147750
5.5
22550
79750
102300
6
163050
41050
204100
6.5
366450
19100
385550
7
611250
12250
623500
7.5
876150
8550
884700
8
1193100
6400
1199500
8.5
1540950
4550
1545500
9
1896200
3200
1899400
9.5
2262450
2300
2264750
10
2631750
1500
2633250
10.5
3039850
850
3040700
11
3448400
350
3448750
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.