This page reflects VNO 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 — VNO
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $33.00 (1.40 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$33.00
Nearest expiry
Expected Move
±$2.70
±8.5%
Days to Expiry
29
Calendar days
Total Call OI
3,291
Nearest expiry
Total Put OI
4,078
Nearest expiry
P/C OI Ratio
1.24
Put-heavy
Spot Price
$31.60
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
$28.00
4/17/2026, 11:33:08 PM
2026-05-15
$29.00
5/15/2026, 11:43:54 PM
2026-06-18NextUpdated
$33.00
5/20/2026, 11:40:45 PM
2026-09-18
$27.00
5/20/2026, 11:40:45 PM
2026-12-18
$30.00
5/20/2026, 11:40:45 PM
2027-01-15
$33.00
5/20/2026, 11:40:45 PM
Selected expiration: 2026-06-18 at max pain $33.00.
VNO pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
18
0
3345300
3345300
19
0
2937500
2937500
20
0
2529700
2529700
22
0
1958900
1958900
23
0
1674700
1674700
24
0
1393100
1393100
25
0
1111500
1111500
26
0
908100
908100
27
300
720100
720400
28
900
554500
555400
29
7000
397500
404500
30
20900
259600
280500
31
52100
172800
224900
32
89300
92600
181900
33
132600
13000
145600
34
178400
9200
187600
35
285400
6700
292100
36
497100
4600
501700
37
721000
2500
723500
38
945100
1000
946100
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.