This page reflects GRAL 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 — GRAL
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $55.00 (11.03 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$55.00
Nearest expiry
Expected Move
±$13.00
±19.7%
Days to Expiry
29
Calendar days
Total Call OI
1,300
Nearest expiry
Total Put OI
521
Nearest expiry
P/C OI Ratio
0.40
Put-heavy
Spot Price
$66.03
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
$50.00
4/17/2026, 11:14:51 PM
2026-05-15
$50.00
5/15/2026, 11:17:06 PM
2026-06-18NextUpdated
$55.00
5/20/2026, 11:14:38 PM
2026-07-17
$50.00
5/20/2026, 11:14:38 PM
2026-10-16
$35.00
5/20/2026, 11:14:38 PM
2027-01-15
$40.00
5/20/2026, 11:14:38 PM
Selected expiration: 2026-06-18 at max pain $55.00.
GRAL pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
1191000
1191000
30
0
936500
936500
35
37500
686000
723500
40
75000
448500
523500
45
115500
252500
368000
50
159500
118000
277500
55
212500
33500
246000
60
306000
9000
315000
65
466500
2000
468500
70
703000
500
703500
75
1059500
0
1059500
80
1648500
0
1648500
85
2276500
0
2276500
90
2914500
0
2914500
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.