This page reflects VERA 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 — VERA
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $40.00 (5.38 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$5.22
±15.1%
Days to Expiry
29
Calendar days
Total Call OI
16,414
Nearest expiry
Total Put OI
1,064
Nearest expiry
P/C OI Ratio
0.06
Put-heavy
Spot Price
$34.62
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
$45.00
4/17/2026, 11:33:32 PM
2026-05-15
$40.00
5/15/2026, 11:45:08 PM
2026-06-18NextUpdated
$40.00
5/20/2026, 11:40:11 PM
2026-07-17
$35.00
5/20/2026, 11:40:11 PM
2026-09-18
$35.00
5/20/2026, 11:40:11 PM
2026-12-18
$30.00
5/20/2026, 11:40:11 PM
2027-01-15
$25.00
5/20/2026, 11:40:11 PM
Selected expiration: 2026-06-18 at max pain $40.00.
VERA pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
2162500
2162500
17.5
0
1899750
1899750
20
0
1638500
1638500
22.5
0
1378250
1378250
25
750
1118000
1118750
30
2250
759000
761250
35
18750
421000
439750
40
170250
262000
432250
45
471250
128000
599250
50
7400750
11000
7411750
55
14769250
0
14769250
60
22267250
0
22267250
65
30032250
0
30032250
70
38098250
0
38098250
75
46305250
0
46305250
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.