This page reflects TMO 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 — TMO
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $460.00 (8.21 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$460.00
Nearest expiry
Expected Move
±$10.55
±2.3%
Days to Expiry
2
Calendar days
Total Call OI
2,397
Nearest expiry
Total Put OI
3,112
Nearest expiry
P/C OI Ratio
1.30
Put-heavy
Spot Price
$451.79
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
$470.00
5/8/2026, 11:29:49 PM
2026-05-15
$467.50
5/15/2026, 11:41:18 PM
2026-05-22NextUpdated
$460.00
5/20/2026, 11:37:39 PM
2026-05-29
$460.00
5/20/2026, 11:37:39 PM
2026-06-05
$460.00
5/20/2026, 11:37:39 PM
2026-06-12
$455.00
5/20/2026, 11:37:39 PM
2026-06-18
$490.00
5/20/2026, 11:37:39 PM
2026-06-26
$450.00
5/20/2026, 11:37:39 PM
2026-07-17
$460.00
5/20/2026, 11:37:39 PM
2026-09-18
$500.00
5/20/2026, 11:37:39 PM
2026-12-18
$520.00
5/20/2026, 11:37:39 PM
2027-01-15
$510.00
5/20/2026, 11:37:39 PM
2027-03-19
$480.00
5/20/2026, 11:37:39 PM
Selected expiration: 2026-05-22 at max pain $460.00.
TMO pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
320
0
40407000
40407000
380
0
21753000
21753000
390
1000
18652000
18653000
400
2000
15552000
15554000
402.5
5000
14780500
14785500
405
8000
14009500
14017500
407.5
11250
13238500
13249750
410
14750
12467500
12482250
412.5
18250
11700000
11718250
415
21750
10940000
10961750
417.5
25250
10182500
10207750
420
28750
9432000
9460750
422.5
32250
8683250
8715500
425
35750
7935000
7970750
427.5
39250
7190500
7229750
430
42750
6449500
6492250
432.5
46250
5718000
5764250
435
49750
5024750
5074500
437.5
53250
4336750
4390000
440
56750
3683000
3739750
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.