This page reflects RBA 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 — RBA
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $100.00 (4.55 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$100.00
Nearest expiry
Expected Move
±$6.50
±6.2%
Days to Expiry
29
Calendar days
Total Call OI
474
Nearest expiry
Total Put OI
65
Nearest expiry
P/C OI Ratio
0.14
Put-heavy
Spot Price
$104.55
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
$95.00
4/17/2026, 11:30:12 PM
2026-05-15
$100.00
5/15/2026, 11:33:31 PM
2026-06-18NextUpdated
$100.00
5/20/2026, 11:31:57 PM
2026-07-17
$100.00
5/20/2026, 11:31:57 PM
2026-09-18
$95.00
5/20/2026, 11:31:57 PM
2026-12-18
$85.00
5/20/2026, 11:31:57 PM
Selected expiration: 2026-06-18 at max pain $100.00.
RBA pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
70
0
176500
176500
80
2000
111500
113500
85
3000
79000
82000
87.5
3500
63500
67000
90
4000
49000
53000
92.5
4500
34750
39250
95
5500
21750
27250
97.5
6750
10000
16750
100
10000
3000
13000
105
32000
0
32000
110
76500
0
76500
115
145500
0
145500
120
231000
0
231000
125
320000
0
320000
130
557000
0
557000
140
1031000
0
1031000
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.