This page reflects RLAY options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 18, 2026 close
Max Pain — RLAY
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $20.00 (0.61 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$20.00
Nearest expiry
Expected Move
±$0.90
±4.4%
Days to Expiry
3
Calendar days
Total Call OI
2,585
Nearest expiry
Total Put OI
2,161
Nearest expiry
P/C OI Ratio
0.84
Put-heavy
Spot Price
$20.61
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-08-21
Expiration
Max Pain Strike
Last Updated
2026-06-18
$10.00
6/18/2026, 11:34:34 PM
2026-07-17
$18.00
7/17/2026, 11:28:12 PM
2026-08-21NextUpdated
$20.00
8/18/2026, 11:38:19 PM
2026-09-18
$18.00
8/18/2026, 11:38:19 PM
2026-12-18
$18.00
8/18/2026, 11:38:19 PM
2027-03-19
$12.00
8/18/2026, 11:38:19 PM
Selected expiration: 2026-08-21 at max pain $20.00.
RLAY pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
7
0
2345600
2345600
8
700
2130100
2130800
9
1400
1914700
1916100
10
2100
1699400
1701500
11
4500
1484100
1488600
13
10100
1053500
1063600
15
15700
623100
638800
16
19400
408000
427400
17
23300
197500
220800
18
27800
124000
151800
19
34000
93200
127200
20
41200
77500
118700
21
255600
62000
317600
22
471100
46500
517600
23
688700
31000
719700
24
919500
15500
935000
25
1152800
0
1152800
27
1623600
0
1623600
28
1876400
0
1876400
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.