This page reflects UMAC 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 — UMAC
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $14.50 (0.13 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$14.50
Nearest expiry
Expected Move
±$0.95
±6.6%
Days to Expiry
2
Calendar days
Total Call OI
6,262
Nearest expiry
Total Put OI
3,443
Nearest expiry
P/C OI Ratio
0.55
Put-heavy
Spot Price
$14.37
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
$14.00
5/8/2026, 11:33:07 PM
2026-05-15
$15.00
5/15/2026, 11:43:36 PM
2026-05-22NextUpdated
$14.50
5/20/2026, 11:34:11 PM
2026-05-29
$14.50
5/20/2026, 11:34:11 PM
2026-06-05
$14.00
5/20/2026, 11:34:11 PM
2026-06-12
$16.00
5/20/2026, 11:34:11 PM
2026-06-18
$17.50
5/20/2026, 11:34:11 PM
2026-06-26
$13.00
5/20/2026, 11:34:11 PM
2026-07-17
$15.00
5/20/2026, 11:34:11 PM
2026-08-21
$12.50
5/20/2026, 11:34:11 PM
2026-11-20
$12.50
5/20/2026, 11:34:11 PM
2027-01-15
$10.00
5/20/2026, 11:34:11 PM
Selected expiration: 2026-05-22 at max pain $14.50.
UMAC pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
3033000
3033000
6
400
2688700
2689100
7
1300
2344600
2345900
7.5
1950
2172750
2174700
8
2800
2001200
2004000
8.5
3750
1830000
1833750
9
4750
1659200
1663950
9.5
5800
1492300
1498100
10
6900
1330350
1337250
10.5
10500
1169450
1179950
11
14250
1009500
1023750
11.5
18400
851400
869800
12
25450
693850
719300
12.5
33100
541900
575000
13
43900
401650
445550
13.5
73050
276900
349950
14
109750
173150
282900
14.5
160100
91500
251600
15
222000
46350
268350
15.5
322800
27550
350350
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.