This page reflects VOD 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 — VOD
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $16.00 (0.76 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$16.00
Nearest expiry
Expected Move
±$0.40
±2.6%
Days to Expiry
2
Calendar days
Total Call OI
346
Nearest expiry
Total Put OI
655
Nearest expiry
P/C OI Ratio
1.89
Put-heavy
Spot Price
$15.24
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
$10.00
5/8/2026, 11:36:12 PM
2026-05-15
$15.00
5/15/2026, 11:44:13 PM
2026-05-22NextUpdated
$16.00
5/20/2026, 11:39:17 PM
2026-05-29
$16.00
5/20/2026, 11:39:17 PM
2026-06-05
$16.00
5/20/2026, 11:39:17 PM
2026-06-12
$16.00
5/20/2026, 11:39:17 PM
2026-06-18
$16.00
5/20/2026, 11:39:17 PM
2026-06-26
$15.00
5/20/2026, 11:39:17 PM
2026-07-17
$14.00
5/20/2026, 11:39:17 PM
2026-10-16
$14.00
5/20/2026, 11:39:17 PM
2027-01-15
$10.00
5/20/2026, 11:39:17 PM
Selected expiration: 2026-05-22 at max pain $16.00.
VOD pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
7
0
571250
571250
8
0
505750
505750
9
0
440550
440550
10
400
375650
376050
11
1000
311050
312050
11.5
1400
278950
280350
12
1900
246850
248750
12.5
2500
214750
217250
13
3150
182650
185800
14
4650
118950
123600
14.5
5600
87100
92700
15
6800
55550
62350
15.5
10100
27650
37750
16
13600
300
13900
16.5
26400
200
26600
17
39350
100
39450
17.5
55900
0
55900
18
72500
0
72500
18.5
89200
0
89200
19
105900
0
105900
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.