This page reflects XP 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 — XP
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $17.00 (0.69 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$17.00
Nearest expiry
Expected Move
±$0.65
±3.7%
Days to Expiry
2
Calendar days
Total Call OI
1,768
Nearest expiry
Total Put OI
1,055
Nearest expiry
P/C OI Ratio
0.60
Put-heavy
Spot Price
$17.69
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
$19.00
5/8/2026, 11:36:04 PM
2026-05-15
$19.00
5/15/2026, 11:48:12 PM
2026-05-22NextUpdated
$17.00
5/20/2026, 11:38:39 PM
2026-05-29
$17.50
5/20/2026, 11:38:39 PM
2026-06-05
$18.00
5/20/2026, 11:38:39 PM
2026-06-12
$18.00
5/20/2026, 11:38:39 PM
2026-06-18
$18.00
5/20/2026, 11:38:39 PM
2026-06-26
$16.00
5/20/2026, 11:38:39 PM
2026-07-17
$16.00
5/20/2026, 11:38:39 PM
2026-08-21
$18.00
5/20/2026, 11:38:39 PM
2026-11-20
$18.00
5/20/2026, 11:38:39 PM
2027-01-15
$17.00
5/20/2026, 11:38:39 PM
Selected expiration: 2026-05-22 at max pain $17.00.
XP pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
9
0
760400
760400
13
2000
338400
340400
14
2500
233100
235600
14.5
2900
180550
183450
15
3450
128000
131450
15.5
4350
78150
82500
16
5250
45350
50600
16.5
6150
23400
29550
17
7050
10050
17100
17.5
42300
4600
46900
18
88350
3750
92100
18.5
147000
3250
150250
19
217400
2900
220300
19.5
294050
2650
296700
20
375750
2400
378150
20.5
461400
2150
463550
21
547500
1900
549400
22
721100
1400
722500
22.5
808050
1150
809200
23
895000
900
895900
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.