This page reflects MORN 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 — MORN
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $170.00 (2.55 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$170.00
Nearest expiry
Expected Move
±$7.10
±4.1%
Days to Expiry
29
Calendar days
Total Call OI
442
Nearest expiry
Total Put OI
197
Nearest expiry
P/C OI Ratio
0.45
Put-heavy
Spot Price
$172.55
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
$165.00
4/17/2026, 11:20:45 PM
2026-05-15
$170.00
5/15/2026, 11:24:25 PM
2026-06-18NextUpdated
$170.00
5/20/2026, 11:22:46 PM
2026-09-18
$160.00
5/20/2026, 11:22:46 PM
2026-12-18
$175.00
5/20/2026, 11:22:46 PM
Selected expiration: 2026-06-18 at max pain $170.00.
MORN pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
100
0
1138500
1138500
105
1000
1040000
1041000
110
2000
941500
943500
115
3000
843000
846000
120
4000
744500
748500
125
5000
646000
651000
130
6000
548500
554500
140
8000
377500
385500
150
10000
207500
217500
155
11000
124000
135000
160
12000
47000
59000
165
14500
31000
45500
170
17000
25000
42000
175
34500
21000
55500
180
58500
17000
75500
185
85000
13000
98000
190
224500
10500
235000
195
366000
8000
374000
200
507500
6000
513500
210
840500
4000
844500
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.