This page reflects TM 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 — TM
Data as of market close May 21, 2026
Nearest listed expiration 2026-06-18 shows max pain at $200.00 (10.34 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$200.00
Nearest expiry
Expected Move
±$11.90
±6.3%
Days to Expiry
28
Calendar days
Total Call OI
2,710
Nearest expiry
Total Put OI
2,643
Nearest expiry
P/C OI Ratio
0.98
Put-heavy
Spot Price
$189.66
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
$220.00
4/17/2026, 11:29:10 PM
2026-05-15
$210.00
5/15/2026, 11:36:39 PM
2026-06-18NextUpdated
$200.00
5/21/2026, 11:33:20 PM
2026-07-17
$230.00
5/21/2026, 11:33:20 PM
2026-09-18
$200.00
5/21/2026, 11:33:20 PM
2026-10-16
$185.00
5/21/2026, 11:33:20 PM
2026-12-18
$210.00
5/21/2026, 11:33:20 PM
2027-01-15
$175.00
5/21/2026, 11:33:20 PM
Selected expiration: 2026-06-18 at max pain $200.00.
TM pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
125
0
17018500
17018500
140
3000
13054000
13057000
145
4000
11736000
11740000
150
5000
10420500
10425500
155
6000
9139500
9145500
160
8000
7867500
7875500
165
10000
6627500
6637500
170
12000
5510500
5522500
175
15000
4576000
4591000
180
19500
3682000
3701500
185
31500
2900500
2932000
190
50500
2207000
2257500
195
405500
1578500
1984000
200
893500
1008000
1901500
210
2758500
272000
3030500
220
4699500
2000
4701500
230
6810500
0
6810500
240
8959500
0
8959500
250
11556500
0
11556500
260
14187500
0
14187500
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.