This page reflects MARA 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 — MARA
Data as of market close May 19, 2026
Nearest listed expiration 2026-05-22 shows max pain at $12.00 (0.44 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$12.00
Nearest expiry
Expected Move
±$0.89
±7.2%
Days to Expiry
3
Calendar days
Total Call OI
191,772
Nearest expiry
Total Put OI
51,649
Nearest expiry
P/C OI Ratio
0.27
Put-heavy
Spot Price
$12.44
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-22
Expiration
Max Pain Strike
Last Updated
2026-05-08
$11.50
5/8/2026, 11:23:10 PM
2026-05-15
$12.00
5/15/2026, 11:24:06 PM
2026-05-22NextUpdated
$12.00
5/19/2026, 11:22:41 PM
2026-05-29
$11.50
5/19/2026, 11:22:41 PM
2026-06-05
$11.50
5/19/2026, 11:22:41 PM
2026-06-12
$11.50
5/19/2026, 11:22:41 PM
2026-06-18
$11.00
5/19/2026, 11:22:41 PM
2026-06-26
$11.00
5/19/2026, 11:22:41 PM
2026-07-17
$13.00
5/19/2026, 11:22:41 PM
2026-08-21
$14.00
5/19/2026, 11:22:41 PM
2026-09-18
$12.00
5/19/2026, 11:22:41 PM
2026-12-18
$10.00
5/19/2026, 11:22:41 PM
2027-01-15
$13.00
5/19/2026, 11:22:41 PM
Selected expiration: 2026-05-22 at max pain $12.00.
MARA pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
51116650
51116650
2
4100
45953750
45957850
3
16800
40790850
40807650
3.5
24050
38209400
38233450
4
32150
35627950
35660100
4.5
43550
33047050
33090600
5
55050
30466150
30521200
5.5
70200
27886450
27956650
6
85700
25307400
25393100
6.5
101600
22730000
22831600
7
117750
20154400
20272150
7.5
134150
17582850
17717000
8
151050
15017700
15168750
8.5
170450
12573200
12743650
9
200850
10410800
10611650
9.5
245050
8268150
8513200
10
307150
6171950
6479100
10.5
528400
4242100
4770500
11
774200
2548750
3322950
11.5
1128300
1400900
2529200
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.