This page reflects RBC 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 — RBC
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $580.00 (8.95 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$580.00
Nearest expiry
Expected Move
±$41.75
±7.3%
Days to Expiry
29
Calendar days
Total Call OI
111
Nearest expiry
Total Put OI
65
Nearest expiry
P/C OI Ratio
0.59
Put-heavy
Spot Price
$571.05
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
$250.00
4/17/2026, 11:23:57 PM
2026-05-15
$600.00
5/15/2026, 11:35:45 PM
2026-06-18NextUpdated
$580.00
5/20/2026, 11:30:54 PM
2026-07-17
$500.00
5/20/2026, 11:30:54 PM
2026-08-21
$390.00
5/20/2026, 11:30:54 PM
2026-10-16
$390.00
5/20/2026, 11:30:54 PM
2026-11-20
$480.00
5/20/2026, 11:30:54 PM
Selected expiration: 2026-06-18 at max pain $580.00.
RBC pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
210
0
1752000
1752000
260
0
1427000
1427000
270
1000
1362000
1363000
280
2000
1297000
1299000
290
3000
1232000
1235000
310
5000
1102000
1107000
330
7000
1008000
1015000
350
9000
914000
923000
380
18000
773000
791000
390
21000
727000
748000
400
24000
681000
705000
410
27000
635000
662000
420
30000
591000
621000
470
45000
371000
416000
480
48000
329000
377000
490
51000
287000
338000
500
54000
248000
302000
510
58000
213000
271000
520
62000
180000
242000
530
66000
150000
216000
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.