National Grid Transco, PLC NatiClose $84.72EOD only
Max Pain
$85.00
Next expiry Jun 18, 2026
Expected Move
±$4.78
5.6% from close
Price Gap
+0.28
Distance to max pain
IV Rank
7
Low premium
P/C OI
0.99
Balanced positioning
Consensus
—
No reports available
Published snapshot: May 20, 2026 close
End-of-day snapshot
This page reflects NGG 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 — NGG
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $85.00 (0.28 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$85.00
Nearest expiry
Expected Move
±$4.78
±5.6%
Days to Expiry
29
Calendar days
Total Call OI
1,943
Nearest expiry
Total Put OI
2,738
Nearest expiry
P/C OI Ratio
1.41
Put-heavy
Spot Price
$84.72
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
$85.00
4/17/2026, 11:20:19 PM
2026-05-15
$90.00
5/15/2026, 11:25:28 PM
2026-06-18NextUpdated
$85.00
5/20/2026, 11:21:16 PM
2026-07-17
$85.00
5/20/2026, 11:21:16 PM
2026-09-18
$90.00
5/20/2026, 11:21:16 PM
2026-11-20
$75.00
5/20/2026, 11:21:16 PM
2026-12-18
$80.00
5/20/2026, 11:21:16 PM
Selected expiration: 2026-06-18 at max pain $85.00.
NGG pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
10466500
10466500
50
0
7737500
7737500
55
0
6381000
6381000
60
0
5025000
5025000
65
0
3683500
3683500
70
4500
2394000
2398500
75
18000
1347500
1365500
80
142000
547000
689000
85
348000
15500
363500
90
1072500
2000
1074500
95
1896500
1000
1897500
100
2835500
0
2835500
105
3807000
0
3807000
110
4778500
0
4778500
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.