This page reflects MCY 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 — MCY
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $85.00 (17.93 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$85.00
Nearest expiry
Expected Move
±$2.50
±2.4%
Days to Expiry
29
Calendar days
Total Call OI
1,761
Nearest expiry
Total Put OI
83
Nearest expiry
P/C OI Ratio
0.05
Put-heavy
Spot Price
$102.93
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
$80.00
4/17/2026, 11:18:16 PM
2026-05-15
$80.00
5/15/2026, 11:24:18 PM
2026-06-18NextUpdated
$85.00
5/20/2026, 11:21:44 PM
2026-07-17
$85.00
5/20/2026, 11:21:44 PM
2026-08-21
$95.00
5/20/2026, 11:21:44 PM
2026-09-18
$70.00
5/20/2026, 11:21:44 PM
2026-12-18
$80.00
5/20/2026, 11:21:44 PM
Selected expiration: 2026-06-18 at max pain $85.00.
MCY pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
200000
200000
45
0
177000
177000
50
0
154000
154000
60
0
109000
109000
65
0
87000
87000
70
0
66000
66000
75
0
50000
50000
80
500
34000
34500
85
2000
18000
20000
90
91500
10000
101500
95
432000
6000
438000
100
814500
2000
816500
105
1588000
1000
1589000
110
2367000
0
2367000
115
3247000
0
3247000
120
4127000
0
4127000
125
5007000
0
5007000
130
5887000
0
5887000
135
6767000
0
6767000
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.