This page reflects TRN 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 — TRN
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $35.00 (1.23 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
±$2.78
±8.2%
Days to Expiry
29
Calendar days
Total Call OI
92
Nearest expiry
Total Put OI
1,901
Nearest expiry
P/C OI Ratio
20.66
Put-heavy
Spot Price
$33.77
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
$34.00
4/17/2026, 11:33:12 PM
2026-05-15
$31.00
5/15/2026, 11:40:59 PM
2026-06-18NextUpdated
$35.00
5/20/2026, 11:35:05 PM
2026-07-17
$27.00
5/20/2026, 11:35:05 PM
2026-10-16
$27.00
5/20/2026, 11:35:05 PM
2027-01-15
$39.00
5/20/2026, 11:35:05 PM
Selected expiration: 2026-06-18 at max pain $35.00.
TRN pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
27
0
1437500
1437500
28
200
1247400
1247600
30
800
867200
868000
31
1200
677200
678400
32
1600
487400
489000
33
3400
307600
311000
34
5200
140400
145600
35
7100
0
7100
36
14200
0
14200
37
22200
0
22200
38
31100
0
31100
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.