This page reflects GWRE 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 — GWRE
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $135.00 (4.80 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$135.00
Nearest expiry
Expected Move
±$23.50
±16.8%
Days to Expiry
29
Calendar days
Total Call OI
528
Nearest expiry
Total Put OI
466
Nearest expiry
P/C OI Ratio
0.88
Put-heavy
Spot Price
$139.80
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
$125.00
4/17/2026, 11:17:33 PM
2026-05-15
$130.00
5/15/2026, 11:18:39 PM
2026-06-18NextUpdated
$135.00
5/20/2026, 11:14:10 PM
2026-07-17
$150.00
5/20/2026, 11:14:10 PM
2026-09-18
$160.00
5/20/2026, 11:14:10 PM
2026-10-16
$125.00
5/20/2026, 11:14:10 PM
2026-12-18
$170.00
5/20/2026, 11:14:10 PM
2027-01-15
$120.00
5/20/2026, 11:14:10 PM
Selected expiration: 2026-06-18 at max pain $135.00.
GWRE pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
80
0
2126500
2126500
90
0
1666500
1666500
95
0
1442000
1442000
100
0
1220000
1220000
105
0
1010500
1010500
110
0
812500
812500
115
0
627000
627000
120
0
458000
458000
125
19000
300500
319500
130
39500
169500
209000
135
71500
83500
155000
140
125500
29500
155000
145
192000
4000
196000
150
270500
2500
273000
155
379000
1000
380000
160
502000
0
502000
165
674000
0
674000
170
880000
0
880000
175
1107500
0
1107500
180
1337000
0
1337000
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.