This page reflects MRAM options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 22, 2026 close
Max Pain — MRAM
Data as of market close May 22, 2026
Nearest listed expiration 2026-06-18 shows max pain at $20.00 (13.68 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$20.00
Nearest expiry
Expected Move
±$12.85
±38.1%
Days to Expiry
27
Calendar days
Total Call OI
31,922
Nearest expiry
Total Put OI
8,555
Nearest expiry
P/C OI Ratio
0.27
Put-heavy
Spot Price
$33.68
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
$10.00
4/17/2026, 11:25:53 PM
2026-05-15
$30.00
5/15/2026, 11:24:40 PM
2026-06-18NextUpdated
$20.00
5/22/2026, 11:18:18 PM
2026-07-17
$30.00
5/22/2026, 11:18:18 PM
2026-09-18
$12.50
5/22/2026, 11:18:18 PM
2026-12-18
$20.00
5/22/2026, 11:18:18 PM
Selected expiration: 2026-06-18 at max pain $20.00.
MRAM pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
15276500
15276500
7.5
2750
13138250
13141000
10
13750
11177500
11191250
12.5
123500
9285500
9409000
15
400000
7481750
7881750
17.5
812000
5779000
6591000
20
1397500
4319750
5717250
22.5
2596000
3136500
5732500
25
4177250
2207500
6384750
30
7732250
1076500
8808750
35
14534250
480500
15014750
40
23820250
150000
23970250
45
34799250
76000
34875250
50
46412750
27500
46440250
55
59097250
4500
59101750
60
72458750
500
72459250
65
86580250
0
86580250
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.