This page reflects MLYS 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 — MLYS
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $25.00 (3.43 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$4.62
±16.3%
Days to Expiry
29
Calendar days
Total Call OI
9,194
Nearest expiry
Total Put OI
4,610
Nearest expiry
P/C OI Ratio
0.50
Put-heavy
Spot Price
$28.43
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
$25.00
4/17/2026, 11:24:16 PM
2026-05-15
$30.00
5/15/2026, 11:23:27 PM
2026-06-18NextUpdated
$25.00
5/20/2026, 11:20:53 PM
2026-09-18
$25.00
5/20/2026, 11:20:53 PM
2026-12-18
$25.00
5/20/2026, 11:20:53 PM
2027-01-15
$30.00
5/20/2026, 11:20:53 PM
Selected expiration: 2026-06-18 at max pain $25.00.
MLYS pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
3168500
3168500
17.5
0
2016500
2016500
20
0
896000
896000
22.5
40000
464250
504250
25
82500
289000
371500
30
270500
110000
380500
35
624000
44000
668000
40
3093500
0
3093500
45
6095500
0
6095500
50
9621500
0
9621500
55
14202500
0
14202500
60
18783500
0
18783500
65
23365000
0
23365000
70
27950500
0
27950500
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.