This page reflects RMBS 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 — RMBS
Data as of market close Jul 2, 2026
Nearest listed expiration 2026-07-17 shows max pain at $135.00 (22.08 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$135.00
Nearest expiry
Expected Move
±$17.75
±15.7%
Days to Expiry
15
Calendar days
Total Call OI
12,557
Nearest expiry
Total Put OI
5,509
Nearest expiry
P/C OI Ratio
0.44
Put-heavy
Spot Price
$112.92
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
$120.00
5/15/2026, 11:33:17 PM
2026-06-18
$135.00
6/18/2026, 11:30:02 PM
2026-07-17NextUpdated
$135.00
7/3/2026, 11:25:58 PM
2026-08-21
$120.00
7/3/2026, 11:25:58 PM
2026-11-20
$130.00
7/3/2026, 11:25:58 PM
2027-01-15
$100.00
7/3/2026, 11:25:58 PM
2027-02-19
$120.00
7/3/2026, 11:25:58 PM
Selected expiration: 2026-07-17 at max pain $135.00.
RMBS pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
70
0
23808500
23808500
75
2000
21078500
21080500
80
4500
18461000
18465500
85
20000
16125500
16145500
90
36000
13797500
13833500
95
61000
11881000
11942000
100
87500
10008500
10096000
105
124000
8376500
8500500
110
170500
6965000
7135500
115
230500
5698000
5928500
120
338500
4602000
4940500
125
890500
3686000
4576500
130
1506000
2825000
4331000
135
2213500
2076000
4289500
140
3274000
1405500
4679500
145
4597500
880000
5477500
150
6146000
398500
6544500
155
8901500
151000
9052500
160
11787500
92000
11879500
165
14848500
52000
14900500
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.