IWM
iShares Russell 2000 ETFClose $273.00EOD onlyThis page reflects IWM options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Nearest listed expiration 2026-05-20 shows max pain at $278.00 (5.00 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain by Expiration
Pain by Strike
| Expiration | Max Pain Strike | Last Updated |
|---|---|---|
| 2026-05-18 | $283.00 | 5/15/2026, 11:19:47 PM |
| 2026-05-19Updated | $278.00 | 5/19/2026, 11:19:49 PM |
| 2026-05-20Next | $278.00 | 5/19/2026, 11:19:49 PM |
| 2026-05-21 | $278.00 | 5/19/2026, 11:19:49 PM |
| 2026-05-22 | $279.00 | 5/19/2026, 11:19:49 PM |
| 2026-05-26 | $279.00 | 5/19/2026, 11:19:49 PM |
| 2026-05-27 | $279.00 | 5/19/2026, 11:19:49 PM |
| 2026-05-28 | $278.00 | 5/19/2026, 11:19:49 PM |
| 2026-05-29 | $280.00 | 5/19/2026, 11:19:49 PM |
| 2026-06-05 | $279.00 | 5/19/2026, 11:19:49 PM |
| 2026-06-12 | $280.00 | 5/19/2026, 11:19:49 PM |
| 2026-06-18 | $270.00 | 5/19/2026, 11:19:49 PM |
| 2026-06-26 | $280.00 | 5/19/2026, 11:19:49 PM |
| 2026-06-30 | $274.00 | 5/19/2026, 11:19:49 PM |
| 2026-07-17 | $275.00 | 5/19/2026, 11:19:49 PM |
| 2026-08-21 | $270.00 | 5/19/2026, 11:19:49 PM |
| 2026-09-18 | $255.00 | 5/19/2026, 11:19:49 PM |
| 2026-09-30 | $250.00 | 5/19/2026, 11:19:49 PM |
| 2026-10-16 | $280.00 | 5/19/2026, 11:19:49 PM |
| 2026-11-20 | $275.00 | 5/19/2026, 11:19:49 PM |
| 2026-12-18 | $250.00 | 5/19/2026, 11:19:49 PM |
| 2026-12-31 | $267.00 | 5/19/2026, 11:19:49 PM |
| 2027-01-15 | $260.00 | 5/19/2026, 11:19:49 PM |
| 2027-03-19 | $280.00 | 5/19/2026, 11:19:49 PM |
| 2027-03-31 | $285.00 | 5/19/2026, 11:19:49 PM |
| 2027-04-16 | $285.00 | 5/19/2026, 11:19:49 PM |
| Strike | Call Pain | Put Pain | Total Pain |
|---|---|---|---|
| 180 | 0 | 705176400 | 705176400 |
| 190 | 5000 | 627454400 | 627459400 |
| 210 | 17000 | 472010400 | 472027400 |
| 230 | 33000 | 316566400 | 316599400 |
| 235 | 39000 | 277705400 | 277744400 |
| 240 | 45000 | 238845400 | 238890400 |
| 247 | 53400 | 184447700 | 184501100 |
| 248 | 54600 | 176676700 | 176731300 |
| 250 | 60400 | 161135100 | 161195500 |
| 251 | 63300 | 153367600 | 153430900 |
| 252 | 71400 | 145600300 | 145671700 |
| 253 | 81100 | 137833000 | 137914100 |
| 254 | 91200 | 130075300 | 130166500 |
| 255 | 101300 | 122356000 | 122457300 |
| 256 | 111400 | 114637900 | 114749300 |
| 257 | 121500 | 106936400 | 107057900 |
| 258 | 131600 | 99243900 | 99375500 |
| 259 | 143100 | 91572400 | 91715500 |
| 260 | 154600 | 83938500 | 84093100 |
| 261 | 169800 | 76394300 | 76564100 |
Max pain is the strike where option holders would collectively lose the most at expiration, based on open interest across the listed chain.
It is most useful as a possible pinning zone, especially when spot is already trading near a crowded strike into expiration.
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.