This page reflects STRZ 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 — STRZ
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $18.00 (3.06 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
±$2.18
±10.3%
Days to Expiry
29
Calendar days
Total Call OI
36
Nearest expiry
Total Put OI
78
Nearest expiry
P/C OI Ratio
2.17
Put-heavy
Spot Price
$21.06
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, 11:33:25 PM
2026-05-15
$12.00
5/15/2026, 11:39:04 PM
2026-06-18NextUpdated
$18.00
5/20/2026, 11:33:37 PM
2026-09-18
$16.00
5/20/2026, 11:33:37 PM
2026-12-18
$10.00
5/20/2026, 11:33:37 PM
Selected expiration: 2026-06-18 at max pain $18.00.
STRZ pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
4
0
82400
82400
5
200
74600
74800
10
1700
35600
37300
11
2400
27800
30200
12
3300
20000
23300
13
4200
16400
20600
15
6000
9200
15200
16
7000
6000
13000
18
9000
2000
11000
20
11000
0
11000
21
12600
0
12600
22
14300
0
14300
23
16200
0
16200
25
22800
0
22800
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.