This page reflects MDWD 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 — MDWD
Data as of market close May 19, 2026
Nearest listed expiration 2026-06-18 shows max pain at $15.00 (1.68 below 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
±$3.08
±18.4%
Days to Expiry
30
Calendar days
Total Call OI
467
Nearest expiry
Total Put OI
124
Nearest expiry
P/C OI Ratio
0.27
Put-heavy
Spot Price
$16.68
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
$17.00
4/17/2026, 11:19:35 PM
2026-05-15
$17.00
5/15/2026, 11:27:27 PM
2026-06-18NextUpdated
$15.00
5/19/2026, 11:22:50 PM
2026-09-18
$16.00
5/19/2026, 11:22:50 PM
2026-12-18
$16.00
5/19/2026, 11:22:50 PM
Selected expiration: 2026-06-18 at max pain $15.00.
MDWD pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
10
0
74000
74000
12
7600
49200
56800
14
29200
24800
54000
15
40000
13000
53000
16
64400
3500
67900
17
88800
600
89400
18
116500
300
116800
19
144700
0
144700
20
173000
0
173000
21
203000
0
203000
22
240400
0
240400
23
278100
0
278100
24
317000
0
317000
25
356500
0
356500
26
396200
0
396200
35
771500
0
771500
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.