This page reflects RDWR 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 — RDWR
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $28.00 (0.69 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$28.00
Nearest expiry
Expected Move
±$1.65
±5.8%
Days to Expiry
29
Calendar days
Total Call OI
136
Nearest expiry
Total Put OI
626
Nearest expiry
P/C OI Ratio
4.60
Put-heavy
Spot Price
$28.69
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
$24.00
4/17/2026, 11:24:13 PM
2026-05-15
$26.00
5/15/2026, 11:32:24 PM
2026-06-18NextUpdated
$28.00
5/20/2026, 11:28:05 PM
2026-08-21
$22.00
5/20/2026, 11:28:05 PM
2026-09-18
$27.00
5/20/2026, 11:28:05 PM
2026-11-20
$28.00
5/20/2026, 11:28:05 PM
Selected expiration: 2026-06-18 at max pain $28.00.
RDWR pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
787900
787900
16
0
725400
725400
18
0
600600
600600
19
0
538400
538400
20
0
476300
476300
22
1600
354100
355700
23
2700
293000
295700
24
7800
231900
239700
25
13000
171000
184000
26
18200
110800
129000
27
23400
50800
74200
28
29100
11000
40100
29
36300
5500
41800
30
46400
0
46400
31
57100
0
57100
35
111500
0
111500
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.