This page reflects TSEM 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 — TSEM
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $225.00 (39.48 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$225.00
Nearest expiry
Expected Move
±$20.55
±7.8%
Days to Expiry
2
Calendar days
Total Call OI
3,166
Nearest expiry
Total Put OI
3,280
Nearest expiry
P/C OI Ratio
1.04
Put-heavy
Spot Price
$264.48
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
$210.00
5/8/2026, 11:35:12 PM
2026-05-15
$200.00
5/15/2026, 11:41:58 PM
2026-05-22NextUpdated
$225.00
5/20/2026, 11:38:28 PM
2026-05-29
$230.00
5/20/2026, 11:38:28 PM
2026-06-05
$250.00
5/20/2026, 11:38:28 PM
2026-06-12
$240.00
5/20/2026, 11:38:28 PM
2026-06-18
$190.00
5/20/2026, 11:38:28 PM
2026-06-26
$220.00
5/20/2026, 11:38:28 PM
2026-07-17
$190.00
5/20/2026, 11:38:28 PM
2026-08-21
$190.00
5/20/2026, 11:38:28 PM
2026-09-18
$195.00
5/20/2026, 11:38:28 PM
2026-10-16
$140.00
5/20/2026, 11:38:28 PM
2027-01-15
$55.00
5/20/2026, 11:38:28 PM
Selected expiration: 2026-05-22 at max pain $225.00.
TSEM pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
115
0
33820400
33820400
120
0
32191900
32191900
125
0
30563400
30563400
130
500
28934900
28935400
135
3000
27308400
27311400
137
4600
26658400
26663000
140
7300
25683400
25690700
142
9300
25035000
25044300
144
11500
24386600
24398100
145
12700
24062500
24075200
146
14100
23738800
23752900
148
17100
23091400
23108500
150
20300
22444000
22464300
152.5
24300
21636000
21660300
155
28300
20828250
20856550
157.5
32300
20021000
20053300
160
36800
19214000
19250800
162.5
41300
18410250
18451550
165
46050
17606750
17652800
167.5
52300
16807000
16859300
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.