This page reflects W 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 — W
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $61.00 (3.72 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
±$3.14
±4.8%
Days to Expiry
2
Calendar days
Total Call OI
8,266
Nearest expiry
Total Put OI
6,300
Nearest expiry
P/C OI Ratio
0.76
Put-heavy
Spot Price
$64.72
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
5/20/2026, 11:40:28 PM
2026-05-29
$61.00
5/20/2026, 11:40:28 PM
2026-06-05
$63.00
5/20/2026, 11:40:28 PM
2026-06-12
$66.00
5/20/2026, 11:40:28 PM
2026-06-18
$67.50
5/20/2026, 11:40:28 PM
2026-06-26
$56.00
5/20/2026, 11:40:28 PM
2026-07-17
$57.50
5/20/2026, 11:40:28 PM
2026-08-21
$62.50
5/20/2026, 11:40:28 PM
2026-09-18
$75.00
5/20/2026, 11:40:28 PM
2026-11-20
$67.50
5/20/2026, 11:40:28 PM
2026-12-18
$55.00
5/20/2026, 11:40:28 PM
2027-01-15
$75.00
5/20/2026, 11:40:28 PM
2027-03-19
$65.00
5/20/2026, 11:40:28 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
13238600
13238600
40
0
10089100
10089100
45
0
6940600
6940600
47
200
5681200
5681400
48
300
5054100
5054400
49.5
450
4117200
4117650
50
500
3811900
3812400
51
600
3353200
3353800
52
700
2908000
2908700
53
1000
2483200
2484200
54
1800
2067500
2069300
55
2900
1664400
1667300
56
4000
1277200
1281200
57
5100
1055200
1060300
58
13700
840300
854000
59
26600
655000
681600
60
57600
520200
577800
61
116800
428000
544800
62
211100
348800
559900
63
314700
273200
587900
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.