This page reflects USB 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 — USB
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $54.00 (0.50 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$54.00
Nearest expiry
Expected Move
±$1.08
±2.0%
Days to Expiry
2
Calendar days
Total Call OI
8,831
Nearest expiry
Total Put OI
6,034
Nearest expiry
P/C OI Ratio
0.68
Put-heavy
Spot Price
$54.50
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
$56.00
5/8/2026, 11:33:13 PM
2026-05-15
$55.00
5/15/2026, 11:40:23 PM
2026-05-22NextUpdated
$54.00
5/20/2026, 11:34:47 PM
2026-05-29
$55.00
5/20/2026, 11:34:47 PM
2026-06-05
$56.00
5/20/2026, 11:34:47 PM
2026-06-12
$55.00
5/20/2026, 11:34:47 PM
2026-06-18
$52.50
5/20/2026, 11:34:47 PM
2026-06-26
$51.00
5/20/2026, 11:34:47 PM
2026-07-17
$55.00
5/20/2026, 11:34:47 PM
2026-08-21
$55.00
5/20/2026, 11:34:47 PM
2026-09-18
$55.00
5/20/2026, 11:34:47 PM
2026-12-18
$45.00
5/20/2026, 11:34:47 PM
2027-01-15
$50.00
5/20/2026, 11:34:47 PM
2027-03-19
$50.00
5/20/2026, 11:34:47 PM
Selected expiration: 2026-05-22 at max pain $54.00.
USB pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
7346950
7346950
43
1800
5536750
5538550
45
3400
4329950
4333350
46
4200
3726550
3730750
47
5200
3123250
3128450
48
6400
2519950
2526350
48.5
7000
2256800
2263800
49
7600
1995400
2003000
50
9100
1476700
1485800
51
10600
1031100
1041700
52
12800
647500
660300
53
21500
298600
320100
54
57400
151600
209000
55
606200
17600
623800
56
1377200
3300
1380500
57
2170200
2800
2173000
58
3008100
2300
3010400
59
3854400
1900
3856300
60
4709500
1500
4711000
61
5578600
1200
5579800
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.