This page reflects RL 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 — RL
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $350.00 (20.76 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$350.00
Nearest expiry
Expected Move
±$33.45
±10.2%
Days to Expiry
29
Calendar days
Total Call OI
1,263
Nearest expiry
Total Put OI
741
Nearest expiry
P/C OI Ratio
0.59
Put-heavy
Spot Price
$329.24
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
$350.00
4/17/2026, 11:24:47 PM
2026-05-15
$360.00
5/15/2026, 11:33:32 PM
2026-06-18NextUpdated
$350.00
5/20/2026, 11:29:15 PM
2026-07-17
$330.00
5/20/2026, 11:29:15 PM
2026-10-16
$350.00
5/20/2026, 11:29:15 PM
2026-11-20
$330.00
5/20/2026, 11:29:15 PM
2027-01-15
$370.00
5/20/2026, 11:29:15 PM
Selected expiration: 2026-06-18 at max pain $350.00.
RL pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
200
0
8391000
8391000
210
1000
7652000
7653000
220
2000
6916000
6918000
230
3000
6183000
6186000
240
5000
5453000
5458000
250
7000
4741000
4748000
260
9000
4045000
4054000
270
11000
3381000
3392000
280
13000
2726000
2739000
290
15000
2122000
2137000
300
22000
1555000
1577000
310
47000
1015000
1062000
320
77000
655000
732000
330
122000
499000
621000
340
198000
379000
577000
350
289000
281000
570000
360
728000
199000
927000
370
1226000
139000
1365000
380
2051000
82000
2133000
390
3192000
52000
3244000
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.