This page reflects W options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 21, 2026 close
Max Pain — W
Data as of market close May 21, 2026
Nearest listed expiration 2026-05-22 shows max pain at $61.00 (5.34 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$61.00
Nearest expiry
Expected Move
±$2.08
±3.1%
Days to Expiry
1
Calendar days
Total Call OI
8,907
Nearest expiry
Total Put OI
6,944
Nearest expiry
P/C OI Ratio
0.78
Put-heavy
Spot Price
$66.34
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
$67.00
5/8/2026, 11:35:30 PM
2026-05-15
$70.00
5/15/2026, 11:46:15 PM
2026-05-22NextUpdated
$61.00
5/21/2026, 11:38:44 PM
2026-05-29
$61.00
5/21/2026, 11:38:44 PM
2026-06-05
$63.00
5/21/2026, 11:38:44 PM
2026-06-12
$61.00
5/21/2026, 11:38:44 PM
2026-06-18
$67.50
5/21/2026, 11:38:44 PM
2026-06-26
$56.00
5/21/2026, 11:38:44 PM
2026-07-17
$60.00
5/21/2026, 11:38:44 PM
2026-08-21
$62.50
5/21/2026, 11:38:44 PM
2026-09-18
$75.00
5/21/2026, 11:38:44 PM
2026-11-20
$67.50
5/21/2026, 11:38:44 PM
2026-12-18
$55.00
5/21/2026, 11:38:44 PM
2027-01-15
$70.00
5/21/2026, 11:38:44 PM
2027-03-19
$65.00
5/21/2026, 11:38:44 PM
Selected expiration: 2026-05-22 at max pain $61.00.
W pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
14782900
14782900
40
0
11311400
11311400
45
0
7841400
7841400
47
200
6453400
6453600
48
300
5762000
5762300
49.5
450
4728650
4729100
50
500
4395300
4395800
51
600
3883500
3884100
52
700
3385600
3386300
53
1200
2909000
2910200
54
2300
2442500
2444800
55
3800
1988700
1992500
56
5300
1549900
1555200
57
6800
1276600
1283400
58
19800
1017900
1037700
59
37100
787800
824900
60
72600
607800
680400
61
138100
497800
635900
62
239200
403800
643000
63
352400
313500
665900
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.