Nearest listed expiration 2026-05-22 shows max pain at $400.00 (7.39 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$400.00
Nearest expiry
Expected Move
±$15.53
±4.0%
Days to Expiry
3
Calendar days
Total Call OI
44,899
Nearest expiry
Total Put OI
91,250
Nearest expiry
P/C OI Ratio
2.03
Put-heavy
Spot Price
$392.61
Published close
Consensus
7.5/10
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
$397.50
5/8/2026, 11:33:03 PM
2026-05-15
$387.50
5/15/2026, 11:39:44 PM
2026-05-22NextUpdated
$400.00
5/19/2026, 11:38:35 PM
2026-05-29
$397.50
5/19/2026, 11:38:35 PM
2026-06-05
$405.00
5/19/2026, 11:38:35 PM
2026-06-12
$400.00
5/19/2026, 11:38:35 PM
2026-06-18
$360.00
5/19/2026, 11:38:35 PM
2026-06-26
$400.00
5/19/2026, 11:38:35 PM
2026-07-17
$380.00
5/19/2026, 11:38:35 PM
2026-08-21
$380.00
5/19/2026, 11:38:35 PM
2026-09-18
$360.00
5/19/2026, 11:38:35 PM
2026-10-16
$360.00
5/19/2026, 11:38:35 PM
2026-11-20
$390.00
5/19/2026, 11:38:35 PM
2026-12-18
$400.00
5/19/2026, 11:38:35 PM
2027-01-15
$300.00
5/19/2026, 11:38:35 PM
2027-03-19
$360.00
5/19/2026, 11:38:35 PM
Selected expiration: 2026-05-22 at max pain $400.00.
TSM pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
190
0
1372927500
1372927500
195
500
1327627500
1327628000
200
1500
1282605000
1282606500
205
3500
1237797000
1237800500
210
5500
1193025500
1193031000
215
7500
1148272500
1148280000
220
9500
1103581500
1103591000
225
12500
1058994500
1059007000
230
16000
1014577000
1014593000
235
19500
972074500
972094000
240
23000
931026500
931049500
245
27500
890704000
890731500
250
33000
850649500
850682500
255
42000
810772000
810814000
260
52000
771004500
771056500
265
62000
731256500
731318500
270
73500
691764500
691838000
275
87500
652366000
652453500
280
102000
613062500
613164500
285
117000
573822000
573939000
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.