This page reflects CMRE 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 — CMRE
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $14.00 (3.41 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$14.00
Nearest expiry
Expected Move
±$1.38
±7.9%
Days to Expiry
29
Calendar days
Total Call OI
3,569
Nearest expiry
Total Put OI
804
Nearest expiry
P/C OI Ratio
0.23
Put-heavy
Spot Price
$17.41
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
$17.00
4/17/2026, 11:07:19 PM
2026-05-15
$16.00
5/15/2026, 11:07:28 PM
2026-06-18NextUpdated
$14.00
5/20/2026, 11:08:40 PM
2026-07-17
$18.00
5/20/2026, 11:08:40 PM
2026-09-18
$16.00
5/20/2026, 11:08:40 PM
2026-12-18
$17.00
5/20/2026, 11:08:40 PM
Selected expiration: 2026-06-18 at max pain $14.00.
CMRE pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
3
0
967500
967500
4
0
887100
887100
5
0
806700
806700
8
0
565500
565500
10
1400
404700
406100
11
2100
325800
327900
12
2800
247900
250700
13
6500
173600
180100
14
32200
108800
141000
15
94300
68600
162900
16
187300
35800
223100
17
328100
14900
343000
18
529400
0
529400
19
800700
0
800700
20
1123900
0
1123900
21
1470500
0
1470500
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.