This page reflects VIRT 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 — VIRT
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $40.00 (13.77 below 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
±$4.17
±7.8%
Days to Expiry
29
Calendar days
Total Call OI
2,449
Nearest expiry
Total Put OI
923
Nearest expiry
P/C OI Ratio
0.38
Put-heavy
Spot Price
$53.77
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
$38.00
4/17/2026, 11:29:41 PM
2026-05-15
$45.00
5/15/2026, 11:45:32 PM
2026-06-18NextUpdated
$40.00
5/20/2026, 11:38:52 PM
2026-07-17
$55.00
5/20/2026, 11:38:52 PM
2026-09-18
$46.00
5/20/2026, 11:38:52 PM
2026-12-18
$40.00
5/20/2026, 11:38:52 PM
Selected expiration: 2026-06-18 at max pain $40.00.
VIRT pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
2148600
2148600
25
170000
1690600
1860600
26
204000
1599200
1803200
27
238000
1508100
1746100
28
272000
1417900
1689900
29
306000
1328500
1634500
30
340500
1239700
1580200
31
375600
1156700
1532300
32
411500
1073700
1485200
33
447700
993100
1440800
34
484100
914100
1398200
35
522400
837300
1359700
36
570200
764000
1334200
37
620800
691000
1311800
38
674300
618000
1292300
39
729400
545400
1274800
40
786400
487500
1273900
41
859400
433000
1292400
42
935100
378800
1313900
43
1010800
327000
1337800
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.