Nearest listed expiration 2026-05-20 shows max pain at $143.00 (9.96 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$143.00
Nearest expiry
Expected Move
±$4.13
±2.7%
Days to Expiry
1
Calendar days
Total Call OI
42,487
Nearest expiry
Total Put OI
33,597
Nearest expiry
P/C OI Ratio
0.79
Put-heavy
Spot Price
$152.96
Published close
Consensus
6.0/10
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-20
Expiration
Max Pain Strike
Last Updated
2026-05-13
$135.00
5/13/2026, 11:39:06 PM
2026-05-15
$132.00
5/15/2026, 11:45:47 PM
2026-05-20NextUpdated
$143.00
5/19/2026, 11:40:36 PM
2026-05-22
$140.00
5/19/2026, 11:40:36 PM
2026-05-27
$143.00
5/19/2026, 11:40:36 PM
2026-05-29
$140.00
5/19/2026, 11:40:36 PM
2026-06-05
$140.00
5/19/2026, 11:40:36 PM
2026-06-12
$140.00
5/19/2026, 11:40:36 PM
2026-06-18
$120.00
5/19/2026, 11:40:36 PM
2026-06-26
$139.00
5/19/2026, 11:40:36 PM
2026-07-17
$110.00
5/19/2026, 11:40:36 PM
2026-09-18
$140.00
5/19/2026, 11:40:36 PM
2026-10-16
$125.00
5/19/2026, 11:40:36 PM
2026-12-18
$129.00
5/19/2026, 11:40:36 PM
2027-01-15
$115.00
5/19/2026, 11:40:36 PM
2027-03-19
$130.00
5/19/2026, 11:40:36 PM
Selected expiration: 2026-05-20 at max pain $143.00.
USO pain by strike for 2026-05-20 expiration
Strike
Call Pain
Put Pain
Total Pain
106
0
117322100
117322100
107
1600
113404700
113406300
108
7500
109487700
109495200
109
13400
105571900
105585300
110
19300
101656700
101676000
111
27700
97746800
97774500
112
36900
93870900
93907800
113
85700
90020600
90106300
114
136400
86171600
86308000
115
190200
82323000
82513200
116
245800
78514800
78760600
117
301900
74729800
75031700
118
359100
70981800
71340900
119
416300
67246200
67662500
120
475000
63518100
63993100
121
542600
59914800
60457400
122
610200
56356100
56966300
123
685400
52819900
53505300
124
760600
49318800
50079400
125
867100
45823200
46690300
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.