D/B/A Sibanye-Stillwater LimiteClose $11.84EOD only
Max Pain
$14.00
Next expiry Jun 18, 2026
Expected Move
±$1.70
14.4% from close
Price Gap
+2.16
Distance to max pain
IV Rank
5
Low premium
P/C OI
0.29
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: May 20, 2026 close
End-of-day snapshot
This page reflects SBSW 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 — SBSW
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $14.00 (2.16 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$14.00
Nearest expiry
Expected Move
±$1.70
±14.4%
Days to Expiry
29
Calendar days
Total Call OI
10,658
Nearest expiry
Total Put OI
9,176
Nearest expiry
P/C OI Ratio
0.86
Put-heavy
Spot Price
$11.84
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
$12.00
4/17/2026, 11:27:43 PM
2026-05-15
$12.00
5/15/2026, 11:35:03 PM
2026-06-18NextUpdated
$14.00
5/20/2026, 11:28:26 PM
2026-07-17
$13.00
5/20/2026, 11:28:26 PM
2026-10-16
$13.00
5/20/2026, 11:28:26 PM
2027-01-15
$5.00
5/20/2026, 11:28:26 PM
Selected expiration: 2026-06-18 at max pain $14.00.
SBSW pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
6689700
6689700
6
1200
5772200
5773400
8
6000
3937200
3943200
9
8400
3019900
3028300
10
20700
2109800
2130500
11
38400
1349900
1388300
12
87600
787800
875400
13
167100
374400
541500
14
320900
96500
417400
15
743300
13000
756300
16
1469700
5500
1475200
17
2420100
0
2420100
18
3453100
0
3453100
19
4499500
0
4499500
20
5552500
0
5552500
21
6617600
0
6617600
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.