This page reflects RF 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 — RF
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $26.00 (1.53 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$26.00
Nearest expiry
Expected Move
±$1.78
±6.5%
Days to Expiry
29
Calendar days
Total Call OI
16,813
Nearest expiry
Total Put OI
10,084
Nearest expiry
P/C OI Ratio
0.60
Put-heavy
Spot Price
$27.53
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
$27.00
4/17/2026, 11:27:47 PM
2026-05-15
$28.00
5/15/2026, 11:33:23 PM
2026-06-18NextUpdated
$26.00
5/20/2026, 11:29:16 PM
2026-08-21
$28.00
5/20/2026, 11:29:16 PM
2026-09-18
$27.00
5/20/2026, 11:29:16 PM
2026-11-20
$25.00
5/20/2026, 11:29:16 PM
2026-12-18
$25.00
5/20/2026, 11:29:16 PM
2027-01-15
$27.00
5/20/2026, 11:29:16 PM
2027-03-19
$27.00
5/20/2026, 11:29:16 PM
Selected expiration: 2026-06-18 at max pain $26.00.
RF pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
19068000
19068000
10
0
14028000
14028000
13
300
11005200
11005500
15
900
8990000
8990900
18
1800
5967200
5969000
19
2900
4966400
4969300
20
4000
3967200
3971200
21
21800
3113700
3135500
22
39800
2278300
2318100
23
245100
1759600
2004700
24
450400
1259700
1710100
25
660200
774700
1434900
26
894800
384200
1279000
27
1136100
199100
1335200
28
1916000
57900
1973900
29
2743700
29100
2772800
30
3925600
8300
3933900
31
5491900
400
5492300
32
7083300
0
7083300
33
8729200
0
8729200
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.