This page reflects VPG 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 — VPG
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $60.00 (40.71 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$60.00
Nearest expiry
Expected Move
±$19.25
±19.1%
Days to Expiry
29
Calendar days
Total Call OI
2,759
Nearest expiry
Total Put OI
1,134
Nearest expiry
P/C OI Ratio
0.41
Put-heavy
Spot Price
$100.71
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
$40.00
4/17/2026, 11:30:53 PM
2026-05-15
$70.00
5/15/2026, 11:43:01 PM
2026-06-18NextUpdated
$60.00
5/20/2026, 11:40:38 PM
2026-07-17
$95.00
5/20/2026, 11:40:38 PM
2026-08-21
$50.00
5/20/2026, 11:40:38 PM
2026-09-18
$40.00
5/20/2026, 11:40:38 PM
2026-11-20
$45.00
5/20/2026, 11:40:38 PM
2026-12-18
$80.00
5/20/2026, 11:40:38 PM
Selected expiration: 2026-06-18 at max pain $60.00.
VPG pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
5269000
5269000
30
0
3587500
3587500
35
1000
3027000
3028000
40
5500
2479000
2484500
45
120000
1997000
2117000
50
273000
1565500
1838500
55
449500
1138500
1588000
60
650500
917000
1567500
65
1355000
760500
2115500
70
2196500
632500
2829000
75
3082000
524500
3606500
80
4013500
416500
4430000
85
4959000
316500
5275500
90
5910500
253500
6164000
95
6964500
209000
7173500
100
8108500
175500
8284000
105
9264500
153000
9417500
110
10466000
131000
10597000
115
11755500
109000
11864500
120
13063000
88000
13151000
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.