This page reflects MGNI 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 — MGNI
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $14.00 (0.94 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$14.00
Nearest expiry
Expected Move
±$1.80
±13.8%
Days to Expiry
29
Calendar days
Total Call OI
10,765
Nearest expiry
Total Put OI
4,148
Nearest expiry
P/C OI Ratio
0.39
Put-heavy
Spot Price
$13.06
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
$12.00
4/17/2026, 11:19:46 PM
2026-05-15
$13.00
5/15/2026, 11:23:13 PM
2026-06-18NextUpdated
$14.00
5/20/2026, 11:21:36 PM
2026-07-17
$14.00
5/20/2026, 11:21:36 PM
2026-09-18
$13.00
5/20/2026, 11:21:36 PM
2026-12-18
$10.00
5/20/2026, 11:21:36 PM
2027-01-15
$15.00
5/20/2026, 11:21:36 PM
Selected expiration: 2026-06-18 at max pain $14.00.
MGNI pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
4843500
4843500
2
100
4428700
4428800
3
300
4013900
4014200
4
600
3599100
3599700
5
1000
3184300
3185300
6
1600
2769500
2771100
7
2400
2355000
2357400
8
3300
1940500
1943800
9
5200
1526100
1531300
10
7100
1125700
1132800
11
11000
740600
751600
12
14900
396300
411200
13
26500
129300
155800
14
84300
47500
131800
15
218900
15500
234400
16
472700
11600
484300
17
1336900
8300
1345200
18
2305700
6000
2311700
19
3281500
3900
3285400
20
4258900
1900
4260800
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.