This page reflects NTRA 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 — NTRA
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $190.00 (14.92 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$190.00
Nearest expiry
Expected Move
±$24.45
±11.9%
Days to Expiry
29
Calendar days
Total Call OI
1,750
Nearest expiry
Total Put OI
1,180
Nearest expiry
P/C OI Ratio
0.67
Put-heavy
Spot Price
$204.92
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
$200.00
4/17/2026, 11:20:45 PM
2026-05-15
$190.00
5/15/2026, 11:25:43 PM
2026-06-18NextUpdated
$190.00
5/20/2026, 11:23:44 PM
2026-07-17
$200.00
5/20/2026, 11:23:44 PM
2026-08-21
$165.00
5/20/2026, 11:23:44 PM
2026-09-18
$210.00
5/20/2026, 11:23:44 PM
2026-10-16
$190.00
5/20/2026, 11:23:44 PM
2026-11-20
$200.00
5/20/2026, 11:23:44 PM
2026-12-18
$190.00
5/20/2026, 11:23:44 PM
2027-01-15
$190.00
5/20/2026, 11:23:44 PM
Selected expiration: 2026-06-18 at max pain $190.00.
NTRA pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
130
0
5647500
5647500
140
1000
4467500
4468500
150
2000
3288500
3290500
160
5000
2252500
2257500
165
6500
1738000
1744500
170
8000
1275000
1283000
175
9500
854500
864000
180
14000
463500
477500
185
98500
331500
430000
190
189500
223000
412500
195
290500
132000
422500
200
398500
53000
451500
210
881500
14000
895500
220
1882500
3000
1885500
230
3460500
0
3460500
240
5114500
0
5114500
250
6795500
0
6795500
260
8522500
0
8522500
270
10257500
0
10257500
290
13729500
0
13729500
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.