This page reflects UWMC 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 — UWMC
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $3.00 (0.01 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$3.00
Nearest expiry
Expected Move
±$0.15
±5.0%
Days to Expiry
2
Calendar days
Total Call OI
4,782
Nearest expiry
Total Put OI
1,714
Nearest expiry
P/C OI Ratio
0.36
Put-heavy
Spot Price
$3.01
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
$3.50
5/8/2026, 11:35:19 PM
2026-05-15
$3.50
5/15/2026, 11:42:03 PM
2026-05-22NextUpdated
$3.00
5/20/2026, 11:38:11 PM
2026-05-29
$0.50
5/20/2026, 11:38:11 PM
2026-06-05
$0.50
5/20/2026, 11:38:11 PM
2026-06-12
$0.50
5/20/2026, 11:38:11 PM
2026-06-18
$6.00
5/20/2026, 11:38:11 PM
2026-06-26
$0.50
5/20/2026, 11:38:11 PM
2026-07-17
$4.00
5/20/2026, 11:38:11 PM
2026-08-21
$3.00
5/20/2026, 11:38:11 PM
2026-09-18
$4.00
5/20/2026, 11:38:11 PM
2026-11-20
$4.00
5/20/2026, 11:38:11 PM
2026-12-18
$4.00
5/20/2026, 11:38:11 PM
2027-01-15
$5.00
5/20/2026, 11:38:11 PM
Selected expiration: 2026-05-22 at max pain $3.00.
UWMC pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
460500
460500
1
72950
375050
448000
1.5
155050
289800
444850
2
237850
204550
442400
2.5
320650
119400
440050
3
403600
34850
438450
3.5
500050
4700
504750
4
660050
1500
661550
4.5
844200
1100
845300
5
1082200
700
1082900
5.5
1320750
400
1321150
6
1559350
200
1559550
6.5
1797950
150
1798100
7
2036600
100
2036700
8
2514000
0
2514000
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.