This page reflects VRDN 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 — VRDN
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $17.00 (0.63 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$17.00
Nearest expiry
Expected Move
±$2.22
±12.6%
Days to Expiry
29
Calendar days
Total Call OI
888
Nearest expiry
Total Put OI
1,523
Nearest expiry
P/C OI Ratio
1.72
Put-heavy
Spot Price
$17.63
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
$20.00
4/17/2026, 11:29:56 PM
2026-05-15
$17.00
5/15/2026, 11:47:35 PM
2026-06-18NextUpdated
$17.00
5/20/2026, 11:41:03 PM
2026-07-17
$15.00
5/20/2026, 11:41:03 PM
2026-10-16
$13.00
5/20/2026, 11:41:03 PM
Selected expiration: 2026-06-18 at max pain $17.00.
VRDN pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
7
0
863200
863200
10
0
406600
406600
12
0
288800
288800
13
0
231100
231100
14
0
173900
173900
15
0
117400
117400
16
400
72200
72600
17
3100
36200
39300
18
70800
15200
86000
19
143300
4200
147500
20
226100
3500
229600
21
311000
2800
313800
22
396100
2100
398200
23
483100
1400
484500
25
658500
0
658500
30
1097500
0
1097500
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.