This page reflects SWBI options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 21, 2026 close
Max Pain — SWBI
Data as of market close May 21, 2026
Nearest listed expiration 2026-06-18 shows max pain at $12.00 (3.31 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$12.00
Nearest expiry
Expected Move
±$1.72
±11.3%
Days to Expiry
28
Calendar days
Total Call OI
5,641
Nearest expiry
Total Put OI
1,403
Nearest expiry
P/C OI Ratio
0.25
Put-heavy
Spot Price
$15.31
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
$14.00
4/17/2026, 11:27:52 PM
2026-05-15
$15.00
5/15/2026, 11:40:10 PM
2026-06-18NextUpdated
$12.00
5/21/2026, 11:32:08 PM
2026-07-17
$15.00
5/21/2026, 11:32:08 PM
2026-09-18
$12.00
5/21/2026, 11:32:08 PM
2026-12-18
$13.00
5/21/2026, 11:32:08 PM
2027-01-15
$10.00
5/21/2026, 11:32:08 PM
Selected expiration: 2026-06-18 at max pain $12.00.
SWBI pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
2
0
1342200
1342200
3
400
1201900
1202300
4
800
1061600
1062400
5
1200
921300
922500
6
1600
781000
782600
7
2000
641100
643100
8
4100
502300
506400
9
6200
378500
384700
10
11400
267900
279300
11
47900
178000
225900
12
96300
105000
201300
13
244400
42000
286400
14
420600
10400
431000
15
699800
1500
701300
16
1098600
0
1098600
17
1534400
0
1534400
18
2060600
0
2060600
19
2594000
0
2594000
20
3156300
0
3156300
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.