Annaly Capital Management Inc.Close $21.56EOD only
Max Pain
$22.00
Next expiry May 22, 2026
Expected Move
±$0.32
1.5% from close
Price Gap
+0.44
Distance to max pain
IV Rank
3
Low premium
P/C OI
0.85
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: May 20, 2026 close
End-of-day snapshot
This page reflects NLY 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 — NLY
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $22.00 (0.44 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$22.00
Nearest expiry
Expected Move
±$0.32
±1.5%
Days to Expiry
2
Calendar days
Total Call OI
4,239
Nearest expiry
Total Put OI
934
Nearest expiry
P/C OI Ratio
0.22
Put-heavy
Spot Price
$21.56
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-22
Expiration
Max Pain Strike
Last Updated
2026-05-08
$22.50
5/8/2026, 11:20:29 PM
2026-05-15
$22.00
5/15/2026, 11:30:50 PM
2026-05-22NextUpdated
$22.00
5/20/2026, 11:19:40 PM
2026-05-29
$22.00
5/20/2026, 11:19:40 PM
2026-06-05
$22.00
5/20/2026, 11:19:40 PM
2026-06-12
$22.50
5/20/2026, 11:19:40 PM
2026-06-18
$22.00
5/20/2026, 11:19:40 PM
2026-06-26
$22.00
5/20/2026, 11:19:40 PM
2026-07-17
$23.00
5/20/2026, 11:19:40 PM
2026-08-21
$22.00
5/20/2026, 11:19:40 PM
2026-10-16
$21.00
5/20/2026, 11:19:40 PM
2027-01-15
$22.00
5/20/2026, 11:19:40 PM
Selected expiration: 2026-05-22 at max pain $22.00.
NLY pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
600500
600500
17
400
413700
414100
18
600
320500
321100
18.5
700
275150
275850
19
800
230050
230850
19.5
900
185200
186100
20
1000
140450
141450
20.5
1100
97200
98300
21
1200
55500
56700
21.5
2650
27200
29850
22
9250
7500
16750
22.5
84800
500
85300
23
209900
0
209900
23.5
384250
0
384250
24
571750
0
571750
24.5
779650
0
779650
25
991250
0
991250
25.5
1203050
0
1203050
26
1414850
0
1414850
26.5
1626650
0
1626650
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.