This page reflects TRI 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 — TRI
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $90.00 (4.64 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$90.00
Nearest expiry
Expected Move
±$10.00
±11.7%
Days to Expiry
29
Calendar days
Total Call OI
688
Nearest expiry
Total Put OI
673
Nearest expiry
P/C OI Ratio
0.98
Put-heavy
Spot Price
$85.36
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
$85.00
4/17/2026, 11:29:24 PM
2026-05-15
$85.00
5/15/2026, 11:38:25 PM
2026-06-18NextUpdated
$90.00
5/20/2026, 11:33:33 PM
2026-07-17
$85.00
5/20/2026, 11:33:33 PM
2026-10-16
$90.00
5/20/2026, 11:33:33 PM
2026-12-18
$75.00
5/20/2026, 11:33:33 PM
2027-01-15
$90.00
5/20/2026, 11:33:33 PM
Selected expiration: 2026-06-18 at max pain $90.00.
TRI pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
1519000
1519000
65
0
1186000
1186000
70
500
856500
857000
75
3500
576500
580000
80
6500
367500
374000
85
36000
209000
245000
90
93500
68000
161500
95
195500
24000
219500
100
314000
1000
315000
105
530500
0
530500
110
750500
0
750500
115
1001500
0
1001500
120
1344500
0
1344500
125
1688000
0
1688000
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.