This page reflects ORA 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 — ORA
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $115.00 (16.78 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$115.00
Nearest expiry
Expected Move
±$10.65
±8.1%
Days to Expiry
29
Calendar days
Total Call OI
7,346
Nearest expiry
Total Put OI
3,098
Nearest expiry
P/C OI Ratio
0.42
Put-heavy
Spot Price
$131.78
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
$110.00
4/17/2026, 11:21:50 PM
2026-05-15
$105.00
5/15/2026, 11:32:38 PM
2026-06-18NextUpdated
$115.00
5/20/2026, 11:25:22 PM
2026-07-17
$110.00
5/20/2026, 11:25:22 PM
2026-09-18
$115.00
5/20/2026, 11:25:22 PM
2026-12-18
$105.00
5/20/2026, 11:25:22 PM
Selected expiration: 2026-06-18 at max pain $115.00.
ORA pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
13454500
13454500
65
0
11906500
11906500
75
0
8810500
8810500
80
6000
7262500
7268500
85
12000
5716000
5728000
90
19000
4169500
4188500
95
27000
2623000
2650000
100
45000
1085500
1130500
105
77500
637000
714500
110
116500
211500
328000
115
180000
134500
314500
120
253500
88500
342000
125
1560500
50000
1610500
130
2901000
25000
2926000
135
4421500
7500
4429000
140
6071000
500
6071500
145
8300000
0
8300000
150
11533000
0
11533000
155
14778500
0
14778500
160
18360500
0
18360500
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.