This page reflects RLAY options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Jul 2, 2026 close
Max Pain — RLAY
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $18.00 (0.65 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$18.00
Nearest expiry
Expected Move
±$1.20
±6.4%
Days to Expiry
15
Calendar days
Total Call OI
1,447
Nearest expiry
Total Put OI
16,216
Nearest expiry
P/C OI Ratio
11.21
Put-heavy
Spot Price
$18.65
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-07-17
Expiration
Max Pain Strike
Last Updated
2026-05-15
$12.00
5/15/2026, 11:34:02 PM
2026-06-18
$10.00
6/18/2026, 11:34:34 PM
2026-07-17NextUpdated
$18.00
7/3/2026, 11:27:48 PM
2026-08-21
$18.00
7/3/2026, 11:27:48 PM
2026-09-18
$16.00
7/3/2026, 11:27:48 PM
2026-12-18
$20.00
7/3/2026, 11:27:48 PM
Selected expiration: 2026-07-17 at max pain $18.00.
RLAY pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
12261000
12261000
9
6800
5785800
5792600
10
8500
4170900
4179400
11
10200
3056100
3066300
12
11900
1942800
1954700
13
15700
1349200
1364900
14
19900
755800
775700
15
26400
162400
188800
16
33400
87500
120900
17
40900
33100
74000
18
58400
7200
65600
19
77500
4800
82300
20
102800
2400
105200
21
237500
0
237500
22
373700
0
373700
23
510200
0
510200
25
784400
0
784400
26
921600
0
921600
28
1196200
0
1196200
30
1475200
0
1475200
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.