This page reflects RLAY 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 — RLAY
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $10.00 (3.02 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$10.00
Nearest expiry
Expected Move
±$1.88
±14.4%
Days to Expiry
29
Calendar days
Total Call OI
33,854
Nearest expiry
Total Put OI
4,952
Nearest expiry
P/C OI Ratio
0.15
Put-heavy
Spot Price
$13.02
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
$9.00
4/17/2026, 11:26:07 PM
2026-05-15
$12.00
5/15/2026, 11:34:02 PM
2026-06-18NextUpdated
$10.00
5/20/2026, 11:29:58 PM
2026-09-18
$8.00
5/20/2026, 11:29:58 PM
2026-12-18
$14.00
5/20/2026, 11:29:58 PM
Selected expiration: 2026-06-18 at max pain $10.00.
RLAY pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
5190300
5190300
2
200
4695500
4695700
4
600
3706500
3707100
5
900
3212000
3212900
6
2900
2717500
2720400
7
4900
2223000
2227900
8
6900
1728700
1735600
9
12600
1235000
1247600
10
18300
801400
819700
11
1127600
543000
1670600
12
2238300
410500
2648800
13
3367900
279400
3647300
14
4906200
153100
5059300
15
6490300
27000
6517300
16
8721000
18000
8739000
17
11470100
9000
11479100
18
14844200
0
14844200
19
18227900
0
18227900
20
21611700
0
21611700
21
24996900
0
24996900
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.