This page reflects RNG 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 — RNG
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $46.00 (2.49 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$46.00
Nearest expiry
Expected Move
±$0.78
±1.8%
Days to Expiry
2
Calendar days
Total Call OI
312
Nearest expiry
Total Put OI
730
Nearest expiry
P/C OI Ratio
2.34
Put-heavy
Spot Price
$43.51
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-22
Expiration
Max Pain Strike
Last Updated
2026-05-08
$43.00
5/8/2026, 11:28:49 PM
2026-05-15
$41.00
5/15/2026, 11:34:15 PM
2026-05-22NextUpdated
$46.00
5/20/2026, 11:28:13 PM
2026-05-29
$41.00
5/20/2026, 11:28:13 PM
2026-06-05
$47.00
5/20/2026, 11:28:13 PM
2026-06-12
$40.00
5/20/2026, 11:28:13 PM
2026-06-18
$40.00
5/20/2026, 11:28:13 PM
2026-06-26
$35.00
5/20/2026, 11:28:13 PM
2026-07-17
$35.00
5/20/2026, 11:28:13 PM
2026-10-16
$40.00
5/20/2026, 11:28:13 PM
2027-01-15
$35.00
5/20/2026, 11:28:13 PM
Selected expiration: 2026-05-22 at max pain $46.00.
RNG pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
1297000
1297000
28
0
1078300
1078300
29
0
1005900
1005900
30
0
933800
933800
31
0
862500
862500
32
200
791900
792100
33
400
722600
723000
34
600
653400
654000
35
800
586500
587300
36
5200
521300
526500
36.5
7400
489850
497250
37
9700
458700
468400
37.5
12000
427950
439950
38
14450
397400
411850
38.5
18050
367850
385900
39
21800
338900
360700
40
30000
281100
311100
41
39900
227900
267800
42
55000
176100
231100
43
73600
135800
209400
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.