This page reflects ZG 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 — ZG
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $45.00 (8.08 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$45.00
Nearest expiry
Expected Move
±$1.35
±3.7%
Days to Expiry
29
Calendar days
Total Call OI
5,399
Nearest expiry
Total Put OI
2,472
Nearest expiry
P/C OI Ratio
0.46
Put-heavy
Spot Price
$36.92
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
$45.00
4/17/2026, 11:34:19 PM
2026-05-15
$45.00
5/15/2026, 11:48:27 PM
2026-06-18NextUpdated
$45.00
5/20/2026, 11:40:00 PM
2026-07-17
$50.00
5/20/2026, 11:40:00 PM
2026-08-21
$40.00
5/20/2026, 11:40:00 PM
2026-11-20
$45.00
5/20/2026, 11:40:00 PM
2026-12-18
$50.00
5/20/2026, 11:40:00 PM
Selected expiration: 2026-06-18 at max pain $45.00.
ZG pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
1476000
1476000
35
0
615500
615500
40
0
180500
180500
45
126500
15500
142000
50
2531500
5500
2537000
55
5096500
2000
5098500
60
7751000
0
7751000
65
10419000
0
10419000
70
13115500
0
13115500
75
15812500
0
15812500
80
18509500
0
18509500
90
23903500
0
23903500
95
26601000
0
26601000
100
29300500
0
29300500
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.