This page reflects ZTO options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 19, 2026 close
Max Pain — ZTO
Data as of market close May 19, 2026
Nearest listed expiration 2026-06-18 shows max pain at $25.00 (1.45 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$2.10
±8.9%
Days to Expiry
30
Calendar days
Total Call OI
412
Nearest expiry
Total Put OI
1,244
Nearest expiry
P/C OI Ratio
3.02
Put-heavy
Spot Price
$23.55
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
$23.00
4/17/2026, 11:32:36 PM
2026-05-15
$24.00
5/15/2026, 11:48:05 PM
2026-06-18NextUpdated
$25.00
5/19/2026, 11:37:50 PM
2026-07-17
$24.00
5/19/2026, 11:37:50 PM
2026-09-18
$27.00
5/19/2026, 11:37:50 PM
2026-10-16
$26.00
5/19/2026, 11:37:50 PM
2026-12-18
$23.00
5/19/2026, 11:37:50 PM
2027-01-15
$25.00
5/19/2026, 11:37:50 PM
Selected expiration: 2026-06-18 at max pain $25.00.
ZTO pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
1147000
1147000
17
0
887600
887600
18
0
760700
760700
19
0
635000
635000
20
0
509600
509600
21
0
392500
392500
22
0
285300
285300
23
400
183400
183800
24
5000
86800
91800
25
23700
2800
26500
26
58600
100
58700
27
102500
0
102500
28
153400
0
153400
29
207900
0
207900
30
263900
0
263900
33
474500
0
474500
35
615300
0
615300
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.