This page reflects WELL 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 — WELL
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $200.00 (18.61 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$200.00
Nearest expiry
Expected Move
±$11.75
±5.4%
Days to Expiry
29
Calendar days
Total Call OI
6,232
Nearest expiry
Total Put OI
4,676
Nearest expiry
P/C OI Ratio
0.75
Put-heavy
Spot Price
$218.61
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
$210.00
4/17/2026, 11:34:30 PM
2026-05-15
$220.00
5/15/2026, 11:44:03 PM
2026-06-18NextUpdated
$200.00
5/20/2026, 11:40:06 PM
2026-07-17
$210.00
5/20/2026, 11:40:06 PM
2026-09-18
$220.00
5/20/2026, 11:40:06 PM
2026-12-18
$200.00
5/20/2026, 11:40:06 PM
2027-01-15
$180.00
5/20/2026, 11:40:06 PM
Selected expiration: 2026-06-18 at max pain $200.00.
WELL pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
90
0
42986500
42986500
100
5000
38661500
38666500
105
12500
36506500
36519000
120
35000
30041500
30076500
125
42500
27886500
27929000
130
50000
25732000
25782000
135
57500
23586000
23643500
140
65000
21440500
21505500
145
77000
19301500
19378500
150
89000
17164500
17253500
155
101500
15154000
15255500
160
114500
13208500
13323000
165
127500
11299000
11426500
170
591500
9415000
10006500
175
1061000
7700500
8761500
180
1742000
6093500
7835500
185
2435000
4685000
7120000
190
3146000
3370000
6516000
195
3887000
2255000
6142000
200
4656500
1478000
6134500
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.