This page reflects GILT 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 — GILT
Data as of market close May 19, 2026
Nearest listed expiration 2026-06-18 shows max pain at $15.00 (0.00 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$15.00
Nearest expiry
Expected Move
±$2.78
±18.5%
Days to Expiry
30
Calendar days
Total Call OI
8,771
Nearest expiry
Total Put OI
1,449
Nearest expiry
P/C OI Ratio
0.17
Put-heavy
Spot Price
$15.00
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
$15.00
4/17/2026, 11:11:39 PM
2026-05-15
$15.00
5/15/2026, 11:17:13 PM
2026-06-18NextUpdated
$15.00
5/19/2026, 11:15:06 PM
2026-07-17
$15.00
5/19/2026, 11:15:06 PM
2026-09-18
$15.00
5/19/2026, 11:15:06 PM
2026-12-18
$17.50
5/19/2026, 11:15:06 PM
2027-01-15
$10.00
5/19/2026, 11:15:06 PM
Selected expiration: 2026-06-18 at max pain $15.00.
GILT pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
2148000
2148000
5
250
1785750
1786000
7.5
1000
1423500
1424500
10
2500
1061500
1064000
12.5
5750
704750
710500
15
25500
368000
393500
17.5
265250
144750
410000
20
745500
25750
771250
22.5
2791250
3750
2795000
25
4882500
0
4882500
30
9249000
0
9249000
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.