This page reflects WING 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 — WING
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $150.00 (21.87 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$150.00
Nearest expiry
Expected Move
±$20.60
±16.1%
Days to Expiry
29
Calendar days
Total Call OI
4,379
Nearest expiry
Total Put OI
8,541
Nearest expiry
P/C OI Ratio
1.95
Put-heavy
Spot Price
$128.13
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
$180.00
4/17/2026, 11:34:00 PM
2026-05-15
$170.00
5/15/2026, 11:45:44 PM
2026-06-18NextUpdated
$150.00
5/20/2026, 11:40:18 PM
2026-07-17
$155.00
5/20/2026, 11:40:18 PM
2026-09-18
$200.00
5/20/2026, 11:40:18 PM
2026-11-20
$165.00
5/20/2026, 11:40:18 PM
2026-12-18
$210.00
5/20/2026, 11:40:18 PM
2027-01-15
$200.00
5/20/2026, 11:40:18 PM
2027-03-19
$160.00
5/20/2026, 11:40:18 PM
Selected expiration: 2026-06-18 at max pain $150.00.
WING pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
85
0
44506000
44506000
90
500
40255500
40256000
95
11000
36019500
36030500
100
27000
31803500
31830500
105
46000
27748000
27794000
110
65000
23833500
23898500
115
96500
20073500
20170000
120
143500
16408500
16552000
125
211000
13488000
13699000
130
787000
10769000
11556000
135
1464000
8677500
10141500
140
2193000
6716000
8909000
145
2977500
5124000
8101500
150
3817000
3607000
7424000
155
4779500
2726500
7506000
160
5832000
2284000
8116000
165
6963500
1910500
8874000
170
8171500
1570500
9742000
175
9419500
1396000
10815500
180
10717000
1262000
11979000
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.