This page reflects VALE 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 — VALE
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $16.50 (0.15 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$16.50
Nearest expiry
Expected Move
±$0.38
±2.3%
Days to Expiry
2
Calendar days
Total Call OI
3,558
Nearest expiry
Total Put OI
7,205
Nearest expiry
P/C OI Ratio
2.03
Put-heavy
Spot Price
$16.35
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
$16.50
5/8/2026, 11:33:41 PM
2026-05-15
$16.00
5/15/2026, 11:44:30 PM
2026-05-22NextUpdated
$16.50
5/20/2026, 11:37:42 PM
2026-05-29
$16.50
5/20/2026, 11:37:42 PM
2026-06-05
$16.00
5/20/2026, 11:37:42 PM
2026-06-12
$16.50
5/20/2026, 11:37:42 PM
2026-06-18
$13.00
5/20/2026, 11:37:42 PM
2026-06-26
$11.50
5/20/2026, 11:37:42 PM
2026-07-17
$17.00
5/20/2026, 11:37:42 PM
2026-09-18
$15.00
5/20/2026, 11:37:42 PM
2026-12-18
$14.00
5/20/2026, 11:37:42 PM
2027-01-15
$15.00
5/20/2026, 11:37:42 PM
2027-03-19
$17.00
5/20/2026, 11:37:42 PM
Selected expiration: 2026-05-22 at max pain $16.50.
VALE pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
8025900
8025900
8
30000
5864400
5894400
9
50100
5143900
5194000
10
83200
4423400
4506600
10.5
100150
4063950
4164100
11
117300
3704500
3821800
12
152000
2985600
3137600
12.5
169600
2626150
2795750
13
187400
2266700
2454100
13.5
205450
1907250
2112700
14
223600
1547800
1771400
14.5
241850
1192150
1434000
15
260600
836750
1097350
15.5
281050
487800
768850
16
305650
151850
457500
16.5
339850
42550
382400
17
396350
22550
418900
17.5
502150
5550
507700
18
648050
3650
651700
18.5
803850
1900
805750
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.