This page reflects MAT 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 — MAT
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $15.00 (0.11 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
±$1.10
±7.4%
Days to Expiry
29
Calendar days
Total Call OI
1,956
Nearest expiry
Total Put OI
718
Nearest expiry
P/C OI Ratio
0.37
Put-heavy
Spot Price
$14.89
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, 11:18:54 PM
2026-05-15
$15.00
5/15/2026, 11:23:47 PM
2026-06-18NextUpdated
$15.00
5/20/2026, 11:23:11 PM
2026-07-17
$16.00
5/20/2026, 11:23:11 PM
2026-10-16
$15.00
5/20/2026, 11:23:11 PM
2027-01-15
$15.00
5/20/2026, 11:23:11 PM
Selected expiration: 2026-06-18 at max pain $15.00.
MAT pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
6
0
596600
596600
10
800
309400
310200
11
1100
237900
239000
12
1400
166600
168000
13
2100
95400
97500
14
2800
46700
49500
15
15800
16800
32600
16
49900
2400
52300
17
230200
900
231100
18
416300
200
416500
19
610300
0
610300
20
804700
0
804700
23
1391200
0
1391200
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.