This page reflects MTN 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 — MTN
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $125.00 (1.51 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$125.00
Nearest expiry
Expected Move
±$13.85
±10.9%
Days to Expiry
29
Calendar days
Total Call OI
688
Nearest expiry
Total Put OI
2,213
Nearest expiry
P/C OI Ratio
3.22
Put-heavy
Spot Price
$126.51
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
$140.00
4/17/2026, 11:26:12 PM
2026-05-15
$125.00
5/15/2026, 11:24:18 PM
2026-06-18NextUpdated
$125.00
5/20/2026, 11:20:50 PM
2026-07-17
$140.00
5/20/2026, 11:20:50 PM
2026-09-18
$140.00
5/20/2026, 11:20:50 PM
2026-10-16
$120.00
5/20/2026, 11:20:50 PM
2026-11-20
$130.00
5/20/2026, 11:20:50 PM
2027-01-15
$80.00
5/20/2026, 11:20:50 PM
Selected expiration: 2026-06-18 at max pain $125.00.
MTN pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
80
0
7755500
7755500
85
0
6671500
6671500
90
0
5596000
5596000
95
0
4533000
4533000
100
0
3471500
3471500
105
6500
2439500
2446000
110
13000
1438000
1451000
115
30500
552000
582500
120
48000
109500
157500
125
81000
31500
112500
130
148000
5000
153000
135
281000
2000
283000
140
476500
0
476500
145
732500
0
732500
150
1036500
0
1036500
155
1361000
0
1361000
160
1696500
0
1696500
165
2033500
0
2033500
170
2376000
0
2376000
175
2719500
0
2719500
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.