Texas Pacific Land CorporationClose $402.53EOD only
Max Pain
$390.00
Next expiry Jun 18, 2026
Expected Move
±$42.20
10.5% from close
Price Gap
-12.53
Distance to max pain
IV Rank
0
Low premium
P/C OI
0.50
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: May 20, 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 20, 2026 close
Max Pain — TPL
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $390.00 (12.53 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
±$42.20
±10.5%
Days to Expiry
29
Calendar days
Total Call OI
1,211
Nearest expiry
Total Put OI
576
Nearest expiry
P/C OI Ratio
0.48
Put-heavy
Spot Price
$402.53
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
5/20/2026, 11:35:13 PM
2026-07-17
$400.00
5/20/2026, 11:35:13 PM
2026-10-16
$430.00
5/20/2026, 11:35:13 PM
2027-01-15
$320.00
5/20/2026, 11:35:13 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
5819000
5819000
300
0
5249000
5249000
310
14000
4685000
4699000
320
28000
4124000
4152000
330
42000
3587000
3629000
340
56000
3084000
3140000
350
72000
2609000
2681000
360
108000
2178000
2286000
370
145000
1797000
1942000
380
185000
1453000
1638000
390
424000
1166000
1590000
400
787000
911000
1698000
410
1238000
682000
1920000
420
1794000
485000
2279000
430
2393000
303000
2696000
440
3062000
198000
3260000
450
3811000
112000
3923000
460
4657000
48000
4705000
470
5561000
35000
5596000
480
6519000
22000
6541000
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.