This page reflects TMQ 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 — TMQ
Data as of market close May 21, 2026
Nearest listed expiration 2026-06-18 shows max pain at $5.00 (0.99 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$5.00
Nearest expiry
Expected Move
±$0.80
±19.9%
Days to Expiry
28
Calendar days
Total Call OI
18,340
Nearest expiry
Total Put OI
5,890
Nearest expiry
P/C OI Ratio
0.32
Put-heavy
Spot Price
$4.01
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
2026-05-01
$4.00
5/1/2026, 11:32:11 PM
2026-05-15
$4.00
5/15/2026, 11:41:04 PM
2026-06-18NextUpdated
$5.00
5/21/2026, 11:33:47 PM
2026-07-17
$4.00
5/21/2026, 11:33:47 PM
2026-09-18
$4.00
5/21/2026, 11:33:47 PM
2026-12-18
$5.00
5/21/2026, 11:33:47 PM
2027-01-15
$4.00
5/21/2026, 11:33:47 PM
Selected expiration: 2026-06-18 at max pain $5.00.
TMQ pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
2054100
2054100
2
1900
1468900
1470800
3
20300
905400
925700
4
103900
401700
505600
5
299100
100000
399100
6
1166200
28100
1194300
7
2281300
18400
2299700
8
3616400
13100
3629500
9
5123300
9500
5132800
10
6709000
5900
6714900
11
8443100
4300
8447400
12
10192100
3200
10195300
13
11961800
2100
11963900
14
13736000
1000
13737000
15
15521800
0
15521800
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.