This page reflects VELO options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 22, 2026 close
Max Pain — VELO
Data as of market close May 22, 2026
Nearest listed expiration 2026-06-18 shows max pain at $15.00 (8.06 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$15.00
Nearest expiry
Expected Move
±$7.55
±32.7%
Days to Expiry
27
Calendar days
Total Call OI
12,995
Nearest expiry
Total Put OI
4,795
Nearest expiry
P/C OI Ratio
0.37
Put-heavy
Spot Price
$23.06
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-06-18
Expiration
Max Pain Strike
Last Updated
2026-04-17
$12.50
4/17/2026, 11:34:15 PM
2026-05-15
$17.50
5/15/2026, 11:42:15 PM
2026-06-18NextUpdated
$15.00
5/22/2026, 11:34:09 PM
2026-07-17
$17.50
5/22/2026, 11:34:09 PM
2026-09-18
$12.50
5/22/2026, 11:34:09 PM
2026-12-18
$10.00
5/22/2026, 11:34:09 PM
Selected expiration: 2026-06-18 at max pain $15.00.
VELO pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
5345750
5345750
5
1500
4148500
4150000
7.5
3000
2954500
2957500
10
116000
1834000
1950000
12.5
297500
836500
1134000
15
603750
315750
919500
17.5
1086750
80500
1167250
20
1702000
12500
1714500
22.5
3034250
6000
3040250
25
4793000
2000
4795000
30
9139000
0
9139000
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.