This page reflects TSSI 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 — TSSI
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $11.50 (0.37 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$11.50
Nearest expiry
Expected Move
±$0.55
±4.9%
Days to Expiry
2
Calendar days
Total Call OI
2,388
Nearest expiry
Total Put OI
347
Nearest expiry
P/C OI Ratio
0.15
Put-heavy
Spot Price
$11.13
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
$15.00
5/8/2026, 11:32:48 PM
2026-05-15
$12.00
5/15/2026, 11:43:05 PM
2026-05-22NextUpdated
$11.50
5/20/2026, 11:38:45 PM
2026-05-29
$11.00
5/20/2026, 11:38:45 PM
2026-06-18
$10.00
5/20/2026, 11:38:45 PM
2026-09-18
$12.50
5/20/2026, 11:38:45 PM
2026-12-18
$15.00
5/20/2026, 11:38:45 PM
2027-01-15
$12.50
5/20/2026, 11:38:45 PM
Selected expiration: 2026-05-22 at max pain $11.50.
TSSI pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
4
0
259600
259600
5
300
225000
225300
5.5
550
207700
208250
6
850
190400
191250
6.5
1450
173200
174650
7
2150
156000
158150
7.5
2900
138900
141800
8
3650
121800
125450
9
5250
87600
92850
9.5
6100
70500
76600
10
6950
53850
60800
10.5
10550
39750
50300
11
14650
25650
40300
11.5
23400
14450
37850
12
37450
10750
48200
12.5
62100
8750
70850
13
87300
6750
94050
13.5
179350
5150
184500
14
271650
3650
275300
14.5
364100
2550
366650
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.