This page reflects TPR 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 — TPR
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $120.00 (15.79 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$120.00
Nearest expiry
Expected Move
±$1.73
±1.3%
Days to Expiry
2
Calendar days
Total Call OI
683
Nearest expiry
Total Put OI
226
Nearest expiry
P/C OI Ratio
0.33
Put-heavy
Spot Price
$135.79
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-22
Expiration
Max Pain Strike
Last Updated
2026-05-08
$138.00
5/8/2026, 11:32:20 PM
2026-05-15
$125.00
5/15/2026, 11:43:13 PM
2026-05-22NextUpdated
$120.00
5/20/2026, 11:34:07 PM
2026-05-29
$131.00
5/20/2026, 11:34:07 PM
2026-06-05
$137.00
5/20/2026, 11:34:07 PM
2026-06-12
$132.00
5/20/2026, 11:34:07 PM
2026-06-18
$130.00
5/20/2026, 11:34:07 PM
2026-06-26
$105.00
5/20/2026, 11:34:07 PM
2026-07-17
$130.00
5/20/2026, 11:34:07 PM
2026-08-21
$130.00
5/20/2026, 11:34:07 PM
2026-09-18
$135.00
5/20/2026, 11:34:07 PM
2026-11-20
$80.00
5/20/2026, 11:34:07 PM
2026-12-18
$100.00
5/20/2026, 11:34:07 PM
2027-01-15
$90.00
5/20/2026, 11:34:07 PM
2027-03-19
$130.00
5/20/2026, 11:34:07 PM
Selected expiration: 2026-05-22 at max pain $120.00.
TPR pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
85
0
1052000
1052000
90
0
939500
939500
95
0
827500
827500
109
0
515300
515300
110
0
493000
493000
111
5900
470800
476700
112
16900
448600
465500
113
30600
426400
457000
115
70000
382000
452000
116
89900
360400
450300
118
130300
317400
447700
119
150500
296000
446500
120
171400
274900
446300
121
193000
255200
448200
122
218600
235800
454400
125
307400
177600
485000
126
337000
158400
495400
127
367100
139400
506500
128
397200
120900
518100
129
427300
103600
530900
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.