This page reflects U 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 — U
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $28.00 (1.77 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$28.00
Nearest expiry
Expected Move
±$1.27
±4.8%
Days to Expiry
2
Calendar days
Total Call OI
13,195
Nearest expiry
Total Put OI
12,548
Nearest expiry
P/C OI Ratio
0.95
Put-heavy
Spot Price
$26.23
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
$27.00
5/8/2026, 11:35:09 PM
2026-05-15
$25.00
5/15/2026, 11:42:51 PM
2026-05-22NextUpdated
$28.00
5/20/2026, 11:35:37 PM
2026-05-29
$27.00
5/20/2026, 11:35:37 PM
2026-06-05
$27.50
5/20/2026, 11:35:37 PM
2026-06-12
$27.00
5/20/2026, 11:35:37 PM
2026-06-18
$25.00
5/20/2026, 11:35:37 PM
2026-06-26
$26.50
5/20/2026, 11:35:37 PM
2026-07-17
$27.00
5/20/2026, 11:35:37 PM
2026-08-21
$25.00
5/20/2026, 11:35:37 PM
2026-11-20
$28.00
5/20/2026, 11:35:37 PM
2027-01-15
$22.00
5/20/2026, 11:35:37 PM
2027-02-19
$30.00
5/20/2026, 11:35:37 PM
Selected expiration: 2026-05-22 at max pain $28.00.
U pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
13
0
15488500
15488500
14
1000
14233700
14234700
15
2800
12978900
12981700
16
5300
11724100
11729400
16.5
7300
11097200
11104500
17
9300
10470450
10479750
17.5
11300
9845900
9857200
18
13450
9221550
9235000
18.5
17700
8600350
8618050
19
22000
7980300
8002300
19.5
27850
7362250
7390100
20
33700
6744900
6778600
20.5
39650
6193750
6233400
21
45700
5645700
5691400
21.5
53200
5098900
5152100
22
61100
4559350
4620450
22.5
69550
4031200
4100750
23
78250
3506750
3585000
23.5
88550
2991250
3079800
24
99050
2486800
2585850
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.