This page reflects TPC 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 — TPC
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $75.00 (1.99 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$75.00
Nearest expiry
Expected Move
±$8.30
±10.8%
Days to Expiry
29
Calendar days
Total Call OI
1,131
Nearest expiry
Total Put OI
270
Nearest expiry
P/C OI Ratio
0.24
Put-heavy
Spot Price
$76.99
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
$60.00
4/17/2026, 11:33:52 PM
2026-05-15
$80.00
5/15/2026, 11:41:52 PM
2026-06-18NextUpdated
$75.00
5/20/2026, 11:35:19 PM
2026-07-17
$70.00
5/20/2026, 11:35:19 PM
2026-10-16
$75.00
5/20/2026, 11:35:19 PM
2026-12-18
$65.00
5/20/2026, 11:35:19 PM
Selected expiration: 2026-06-18 at max pain $75.00.
TPC pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
55
0
554500
554500
65
0
299500
299500
70
0
173500
173500
75
2500
106000
108500
80
73000
75500
148500
85
166000
51500
217500
90
272000
33000
305000
95
623500
16500
640000
100
978000
2000
980000
105
1535500
1000
1536500
110
2096000
500
2096500
115
2657500
0
2657500
130
4346500
0
4346500
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.