This page reflects NRIX 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 — NRIX
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $14.00 (2.42 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$14.00
Nearest expiry
Expected Move
±$4.42
±26.9%
Days to Expiry
29
Calendar days
Total Call OI
625
Nearest expiry
Total Put OI
20
Nearest expiry
P/C OI Ratio
0.03
Put-heavy
Spot Price
$16.42
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
$10.00
4/17/2026, 11:23:00 PM
2026-05-15
$16.00
5/15/2026, 11:28:21 PM
2026-06-18NextUpdated
$14.00
5/20/2026, 11:25:11 PM
2026-07-17
$18.00
5/20/2026, 11:25:11 PM
2026-10-16
$16.00
5/20/2026, 11:25:11 PM
Selected expiration: 2026-06-18 at max pain $14.00.
NRIX pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
10
0
13200
13200
12
400
9200
9600
14
800
5400
6200
15
7000
3500
10500
16
14500
1700
16200
17
50000
300
50300
18
85900
200
86100
19
142100
100
142200
20
198500
0
198500
21
256900
0
256900
22
315600
0
315600
23
378000
0
378000
25
503000
0
503000
30
815500
0
815500
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.