This page reflects VERX 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 — VERX
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $15.00 (1.49 above 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
±$1.72
±12.8%
Days to Expiry
29
Calendar days
Total Call OI
448
Nearest expiry
Total Put OI
441
Nearest expiry
P/C OI Ratio
0.98
Put-heavy
Spot Price
$13.51
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
$13.00
4/17/2026, 11:32:37 PM
2026-05-15
$14.00
5/15/2026, 11:44:34 PM
2026-06-18NextUpdated
$15.00
5/20/2026, 11:37:18 PM
2026-09-18
$15.00
5/20/2026, 11:37:18 PM
2026-12-18
$10.00
5/20/2026, 11:37:18 PM
Selected expiration: 2026-06-18 at max pain $15.00.
VERX pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
3
0
480400
480400
6
300
348100
348400
8
900
259900
260800
9
1300
215800
217100
10
1900
173600
175500
11
2500
133300
135800
12
3100
97500
100600
13
4600
71200
75800
14
7400
57100
64500
15
12200
43700
55900
16
24200
36500
60700
17
58200
29700
87900
18
94800
23300
118100
19
132100
17100
149200
20
169700
11400
181100
21
208600
6900
215500
22
250300
5100
255400
23
292000
3900
295900
24
333700
2800
336500
25
375500
2000
377500
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.