This page reflects WPM 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 — WPM
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $130.00 (2.84 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$130.00
Nearest expiry
Expected Move
±$4.38
±3.4%
Days to Expiry
2
Calendar days
Total Call OI
1,408
Nearest expiry
Total Put OI
813
Nearest expiry
P/C OI Ratio
0.58
Put-heavy
Spot Price
$127.16
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
$130.00
5/8/2026, 11:37:00 PM
2026-05-15
$130.00
5/15/2026, 11:46:43 PM
2026-05-22NextUpdated
$130.00
5/20/2026, 11:36:05 PM
2026-05-29
$130.00
5/20/2026, 11:36:05 PM
2026-06-05
$130.00
5/20/2026, 11:36:05 PM
2026-06-12
$135.00
5/20/2026, 11:36:05 PM
2026-06-18
$130.00
5/20/2026, 11:36:05 PM
2026-06-26
$138.00
5/20/2026, 11:36:05 PM
2026-07-17
$150.00
5/20/2026, 11:36:05 PM
2026-08-21
$130.00
5/20/2026, 11:36:05 PM
2026-09-18
$125.00
5/20/2026, 11:36:05 PM
2026-12-18
$150.00
5/20/2026, 11:36:05 PM
2027-01-15
$110.00
5/20/2026, 11:36:05 PM
2027-03-19
$120.00
5/20/2026, 11:36:05 PM
Selected expiration: 2026-05-22 at max pain $130.00.
WPM pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
80
0
3813100
3813100
85
1500
3407100
3408600
90
3000
3001600
3004600
100
14000
2192600
2206600
105
19500
1788100
1807600
109
23900
1464900
1488800
110
26700
1384100
1410800
111
32900
1303900
1336800
112
39100
1224200
1263300
113
45300
1144600
1189900
114
51500
1065300
1116800
115
57700
986100
1043800
116
65000
914400
979400
118
79600
771400
851000
119
86900
700000
786900
120
94200
630500
724700
121
101600
566000
667600
122
109000
505400
614400
123
116500
447300
563800
124
126500
396100
522600
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.