This page reflects TXT 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 — TXT
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $90.00 (0.48 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
±$5.45
±6.1%
Days to Expiry
29
Calendar days
Total Call OI
2,997
Nearest expiry
Total Put OI
940
Nearest expiry
P/C OI Ratio
0.31
Put-heavy
Spot Price
$89.52
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
$90.00
4/17/2026, 11:34:06 PM
2026-05-15
$87.50
5/15/2026, 11:41:11 PM
2026-06-18NextUpdated
$90.00
5/20/2026, 11:34:06 PM
2026-08-21
$90.00
5/20/2026, 11:34:06 PM
2026-09-18
$92.50
5/20/2026, 11:34:06 PM
2026-11-20
$87.50
5/20/2026, 11:34:06 PM
2026-12-18
$85.00
5/20/2026, 11:34:06 PM
Selected expiration: 2026-06-18 at max pain $90.00.
TXT pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
42.5
0
3673750
3673750
47.5
0
3203750
3203750
50
1750
2968750
2970500
60
9750
2028750
2038500
65
14250
1558750
1573000
70
18750
1088750
1107500
72.5
21000
853750
874750
75
23250
643750
667000
77.5
29500
456500
486000
80
35750
348750
384500
82.5
45000
254250
299250
85
56250
176250
232500
87.5
81000
129750
210750
90
119750
89000
208750
92.5
296750
64750
361500
95
509500
41500
551000
97.5
967750
20500
988250
100
1497000
0
1497000
105
2692500
0
2692500
110
4125500
0
4125500
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.