This page reflects TPB 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 — TPB
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $85.00 (6.20 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$85.00
Nearest expiry
Expected Move
±$10.80
±11.8%
Days to Expiry
29
Calendar days
Total Call OI
230
Nearest expiry
Total Put OI
546
Nearest expiry
P/C OI Ratio
2.37
Put-heavy
Spot Price
$91.20
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
$55.00
4/17/2026, 11:33:51 PM
2026-05-15
$75.00
5/15/2026, 11:41:08 PM
2026-06-18NextUpdated
$85.00
5/20/2026, 11:33:56 PM
2026-07-17
$80.00
5/20/2026, 11:33:56 PM
2026-09-18
$85.00
5/20/2026, 11:33:56 PM
2026-10-16
$75.00
5/20/2026, 11:33:56 PM
2026-12-18
$75.00
5/20/2026, 11:33:56 PM
Selected expiration: 2026-06-18 at max pain $85.00.
TPB pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
45
0
2151000
2151000
65
0
1063000
1063000
70
0
793500
793500
75
0
526500
526500
80
1500
260000
261500
85
22500
5000
27500
90
59500
1500
61000
95
112000
1000
113000
100
172000
500
172500
105
279500
0
279500
110
387000
0
387000
120
617000
0
617000
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.