This page reflects BRZE 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 — BRZE
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $22.50 (0.32 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$22.50
Nearest expiry
Expected Move
±$4.77
±20.9%
Days to Expiry
29
Calendar days
Total Call OI
5,371
Nearest expiry
Total Put OI
2,252
Nearest expiry
P/C OI Ratio
0.42
Put-heavy
Spot Price
$22.82
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
$20.00
4/17/2026, 11:02:17 PM
2026-05-15
$22.50
5/15/2026, 11:04:05 PM
2026-06-18NextUpdated
$22.50
5/20/2026, 11:03:50 PM
2026-08-21
$20.00
5/20/2026, 11:03:50 PM
2026-11-20
$27.50
5/20/2026, 11:03:50 PM
2026-12-18
$25.00
5/20/2026, 11:03:50 PM
2027-01-15
$17.50
5/20/2026, 11:03:50 PM
Selected expiration: 2026-06-18 at max pain $22.50.
BRZE pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
7.5
0
2433000
2433000
10
0
1901500
1901500
12.5
0
1370750
1370750
15
0
862750
862750
17.5
4750
381500
386250
20
44250
179750
224000
22.5
121000
73500
194500
25
264750
31250
296000
27.5
991750
12500
1004250
30
2194500
7500
2202000
32.5
3437000
2500
3439500
35
4714500
1250
4715750
37.5
6016750
0
6016750
40
7343250
0
7343250
42.5
8678500
0
8678500
45
10018250
0
10018250
50
12699750
0
12699750
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.