This page reflects TRMD 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 — TRMD
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $35.00 (2.30 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$35.00
Nearest expiry
Expected Move
±$4.50
±13.8%
Days to Expiry
29
Calendar days
Total Call OI
10,736
Nearest expiry
Total Put OI
4,468
Nearest expiry
P/C OI Ratio
0.42
Put-heavy
Spot Price
$32.70
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
$25.00
4/17/2026, 11:33:56 PM
2026-05-15
$30.00
5/15/2026, 11:41:32 PM
2026-06-18NextUpdated
$35.00
5/20/2026, 11:35:45 PM
2026-07-17
$25.00
5/20/2026, 11:35:45 PM
2026-10-16
$45.00
5/20/2026, 11:35:45 PM
2027-01-15
$45.00
5/20/2026, 11:35:45 PM
Selected expiration: 2026-06-18 at max pain $35.00.
TRMD pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
12569250
12569250
17.5
1500
11452250
11453750
20
5000
10335500
10340500
22.5
8750
9219000
9227750
25
14500
8103500
8118000
30
29000
5878000
5907000
35
255500
3842000
4097500
40
4990500
1839000
6829500
45
10356500
181000
10537500
50
15724500
0
15724500
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.