Texas Pacific Land CorporationClose $396.98EOD only
Max Pain
$390.00
Next expiry Jun 18, 2026
Expected Move
±$39.35
9.9% from close
Price Gap
-6.98
Distance to max pain
IV Rank
5
Low premium
P/C OI
0.50
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: May 21, 2026 close
End-of-day snapshot
This page reflects TPL 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 — TPL
Data as of market close May 21, 2026
Nearest listed expiration 2026-06-18 shows max pain at $390.00 (6.98 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$390.00
Nearest expiry
Expected Move
±$39.35
±9.9%
Days to Expiry
28
Calendar days
Total Call OI
1,245
Nearest expiry
Total Put OI
578
Nearest expiry
P/C OI Ratio
0.46
Put-heavy
Spot Price
$396.98
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
$410.00
4/17/2026, 11:30:56 PM
2026-05-15
$400.00
5/15/2026, 11:38:07 PM
2026-06-18NextUpdated
$390.00
5/21/2026, 11:34:12 PM
2026-07-17
$400.00
5/21/2026, 11:34:12 PM
2026-10-16
$430.00
5/21/2026, 11:34:12 PM
2027-01-15
$320.00
5/21/2026, 11:34:12 PM
Selected expiration: 2026-06-18 at max pain $390.00.
TPL pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
290
0
5834000
5834000
300
0
5262000
5262000
310
14000
4696000
4710000
320
28000
4133000
4161000
330
42000
3594000
3636000
340
56000
3087000
3143000
350
72000
2598000
2670000
360
108000
2164000
2272000
370
146000
1790000
1936000
380
187000
1453000
1640000
390
426000
1167000
1593000
400
788000
911000
1699000
410
1239000
682000
1921000
420
1798000
485000
2283000
430
2403000
303000
2706000
440
3100000
198000
3298000
450
3877000
112000
3989000
460
4752000
48000
4800000
470
5684000
35000
5719000
480
6674000
22000
6696000
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.