This page reflects MTB 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 — MTB
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $210.00 (0.42 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$210.00
Nearest expiry
Expected Move
±$11.90
±5.7%
Days to Expiry
29
Calendar days
Total Call OI
1,595
Nearest expiry
Total Put OI
2,424
Nearest expiry
P/C OI Ratio
1.52
Put-heavy
Spot Price
$210.42
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
$210.00
4/17/2026, 11:20:04 PM
2026-05-15
$210.00
5/15/2026, 11:29:19 PM
2026-06-18NextUpdated
$210.00
5/20/2026, 11:25:02 PM
2026-07-17
$210.00
5/20/2026, 11:25:02 PM
2026-09-18
$210.00
5/20/2026, 11:25:02 PM
2026-10-16
$200.00
5/20/2026, 11:25:02 PM
2026-12-18
$210.00
5/20/2026, 11:25:02 PM
2027-02-19
$180.00
5/20/2026, 11:25:02 PM
2027-03-19
$220.00
5/20/2026, 11:25:02 PM
Selected expiration: 2026-06-18 at max pain $210.00.
MTB pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
80
0
20543500
20543500
90
2000
18121500
18123500
100
5000
15699500
15704500
105
6500
14489500
14496000
110
8000
13281000
13289000
115
9500
12079500
12089000
120
11500
10878000
10889500
125
13500
9681500
9695000
130
15500
8485000
8500500
135
17500
7288500
7306000
140
19500
6095500
6115000
145
21500
4914000
4935500
150
23500
3733500
3757000
155
25500
3254000
3279500
160
28000
2776000
2804000
165
30500
2298000
2328500
170
33000
1827500
1860500
175
36000
1363000
1399000
180
39000
1049500
1088500
185
49500
842500
892000
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.