This page reflects VLO 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 — VLO
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $247.50 (6.27 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$247.50
Nearest expiry
Expected Move
±$8.38
±3.3%
Days to Expiry
2
Calendar days
Total Call OI
3,185
Nearest expiry
Total Put OI
4,155
Nearest expiry
P/C OI Ratio
1.30
Put-heavy
Spot Price
$253.77
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
$235.00
5/8/2026, 11:33:51 PM
2026-05-15
$230.00
5/15/2026, 11:43:41 PM
2026-05-22NextUpdated
$247.50
5/20/2026, 11:37:52 PM
2026-05-29
$240.00
5/20/2026, 11:37:52 PM
2026-06-05
$240.00
5/20/2026, 11:37:52 PM
2026-06-12
$220.00
5/20/2026, 11:37:52 PM
2026-06-18
$190.00
5/20/2026, 11:37:52 PM
2026-06-26
$240.00
5/20/2026, 11:37:52 PM
2026-07-17
$185.00
5/20/2026, 11:37:52 PM
2026-09-18
$220.00
5/20/2026, 11:37:52 PM
2026-12-18
$180.00
5/20/2026, 11:37:52 PM
2027-01-15
$175.00
5/20/2026, 11:37:52 PM
2027-03-19
$240.00
5/20/2026, 11:37:52 PM
Selected expiration: 2026-05-22 at max pain $247.50.
VLO pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
130
0
38713500
38713500
150
4000
30405500
30409500
155
10000
28328500
28338500
165
22000
24176500
24198500
170
28500
22202500
22231000
175
35000
20309500
20344500
180
41500
18422000
18463500
185
48000
16550500
16598500
195
68000
13100500
13168500
200
78000
11376000
11454000
205
90000
9820000
9910000
207.5
97250
9047000
9144250
210
104500
8274500
8379000
212.5
113250
7559000
7672250
215
122500
6843500
6966000
217.5
132250
6144250
6276500
220
142000
5447750
5589750
222.5
156750
4850000
5006750
225
171500
4260500
4432000
227.5
187500
3723250
3910750
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.