This page reflects RMBS 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 — RMBS
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $120.00 (13.56 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$120.00
Nearest expiry
Expected Move
±$25.00
±18.7%
Days to Expiry
29
Calendar days
Total Call OI
4,672
Nearest expiry
Total Put OI
3,042
Nearest expiry
P/C OI Ratio
0.65
Put-heavy
Spot Price
$133.56
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
$95.00
4/17/2026, 11:28:07 PM
2026-05-15
$120.00
5/15/2026, 11:33:17 PM
2026-06-18NextUpdated
$120.00
5/20/2026, 11:31:23 PM
2026-07-17
$125.00
5/20/2026, 11:31:23 PM
2026-08-21
$105.00
5/20/2026, 11:31:23 PM
2026-11-20
$105.00
5/20/2026, 11:31:23 PM
2027-01-15
$92.50
5/20/2026, 11:31:23 PM
Selected expiration: 2026-06-18 at max pain $120.00.
RMBS pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
65
0
11215500
11215500
70
4500
9897000
9901500
75
9000
8580500
8589500
80
13500
7306500
7320000
85
19000
6092000
6111000
90
33000
4928000
4961000
95
58000
3864500
3922500
100
90000
2973000
3063000
105
157000
2227500
2384500
110
249500
1608500
1858000
115
446000
1171000
1617000
120
710500
852500
1563000
125
1092000
630500
1722500
130
1541000
444500
1985500
135
2361000
321500
2682500
140
3309500
220500
3530000
145
4372500
161000
4533500
150
5690000
105500
5795500
155
7189500
52500
7242000
160
8728000
500
8728500
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.