This page reflects ZBH 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 — ZBH
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $85.00 (0.38 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$85.00
Nearest expiry
Expected Move
±$6.22
±7.3%
Days to Expiry
29
Calendar days
Total Call OI
2,458
Nearest expiry
Total Put OI
1,312
Nearest expiry
P/C OI Ratio
0.53
Put-heavy
Spot Price
$85.38
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
$90.00
4/17/2026, 11:31:12 PM
2026-05-15
$85.00
5/15/2026, 11:46:54 PM
2026-06-18NextUpdated
$85.00
5/20/2026, 11:38:31 PM
2026-07-17
$80.00
5/20/2026, 11:38:31 PM
2026-09-18
$85.00
5/20/2026, 11:38:31 PM
2026-12-18
$85.00
5/20/2026, 11:38:31 PM
2027-01-15
$90.00
5/20/2026, 11:38:31 PM
2027-03-19
$80.00
5/20/2026, 11:38:31 PM
Selected expiration: 2026-06-18 at max pain $85.00.
ZBH pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
3912500
3912500
55
0
3264000
3264000
60
0
2620500
2620500
70
5000
1352500
1357500
75
26500
756000
782500
80
52000
304000
356000
85
94000
116000
210000
90
262000
36000
298000
95
734500
3500
738000
100
1659500
2000
1661500
105
2711500
1000
2712500
110
3809500
0
3809500
115
4972000
0
4972000
120
6157000
0
6157000
125
7353500
0
7353500
130
8566500
0
8566500
135
9784500
0
9784500
140
11009000
0
11009000
145
12235500
0
12235500
150
13462500
0
13462500
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.