This page reflects NTRS 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 — NTRS
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $160.00 (5.96 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$160.00
Nearest expiry
Expected Move
±$10.00
±6.0%
Days to Expiry
29
Calendar days
Total Call OI
587
Nearest expiry
Total Put OI
230
Nearest expiry
P/C OI Ratio
0.39
Put-heavy
Spot Price
$165.96
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
$155.00
4/17/2026, 11:26:32 PM
2026-05-15
$160.00
5/15/2026, 11:25:43 PM
2026-06-18NextUpdated
$160.00
5/20/2026, 11:21:39 PM
2026-07-17
$145.00
5/20/2026, 11:21:39 PM
2026-10-16
$155.00
5/20/2026, 11:21:39 PM
2026-12-18
$130.00
5/20/2026, 11:21:39 PM
2027-01-15
$140.00
5/20/2026, 11:21:39 PM
Selected expiration: 2026-06-18 at max pain $160.00.
NTRS pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
115
0
867000
867000
125
0
638000
638000
130
0
529000
529000
135
0
421500
421500
145
0
221500
221500
150
0
124500
124500
155
0
54000
54000
160
0
18000
18000
165
7500
13000
20500
170
194500
10500
205000
175
441500
8000
449500
180
709000
6000
715000
185
997500
4000
1001500
190
1288500
2000
1290500
195
1580000
0
1580000
200
1871500
0
1871500
220
3041500
0
3041500
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.