# IRS Max Pain (Strike Pegger)

> IRS max pain chart: the strike where option writers' aggregate liability is minimized, daily and by expiration.

Data as of Nov 11, 2026 (end of day).

Max Pain© analysis: the peg is the strike where call and put writers' aggregate liability is minimized; the target price (bias) is where call and put liability converge.

## IRS quote

| Field | Value |
|---|---|
| Last | 12.70 |
| Change | -0.10 |
| Open | 12.75 |
| Previous | 12.80 |
| High | 12.97 |
| Low | 12.53 |
| Bid | - |
| Ask | - |
| Volume | 190,124 |
| Trades | - |
| Dividend | - |
| Yield | - |
| Ex-Div | - |
| Split Date | - |
| Impl Vol | 48.1% |
| Hist Vol | 40.9% |
| Opt Volume | 62 |
| Open Int | 1,843 |

Expiration: Nov 20, 2026.

All expirations: 2026-11-20, 2026-12-18, 2027-01-15, 2027-04-16.

Change the view with query parameters: `expiration` (YYYY-MM-DD, the daily history and the by-strike profile), `date` (an earlier session). Example: `/quotes/strike-pegger/IRS.md?expiration=2026-11-20`.

## Daily History — expiration Nov 20, 2026

| Date | Strike Peg | Stock Price | Target Price (bias) | Call OI | Put OI |
|---|---:|---:|---:|---:|---:|
| Nov 11, 2026 | 15.00 | 12.70 | 14.91 | 63 | 352 |
| Nov 10, 2026 | 15.00 | 12.80 | 14.91 | 63 | 352 |
| Nov 9, 2026 | 15.00 | 13.08 | 14.91 | 63 | 352 |
| Nov 6, 2026 | 15.00 | 12.58 | 14.89 | 64 | 352 |
| Nov 5, 2026 | 15.00 | 12.12 | 13.83 | 64 | 52 |
| Nov 4, 2026 | 15.00 | 12.39 | 13.83 | 64 | 52 |
| Nov 3, 2026 | 15.00 | 12.43 | 13.83 | 64 | 52 |
| Oct 30, 2026 | 12.50 | 14.25 | 12.83 | 209 | 50 |

## Open Interest by Strike

**Strike Peg is 15.00, Bias: 14.91** (expiration Nov 20, 2026) — 18.1% above the last price of 12.70; open interest 63 calls / 352 puts (put/call 5.59).

Net Liability is the call plus put writers' liability if the stock settles at the strike; the peg is its minimum. Showing 5 of 11 strikes: those with open interest; the peg uses every strike.

| Strike | Call OI | Put OI | Net Liability |
|---:|---:|---:|---:|
| 10.00 | 6 | 0 | 1,688 |
| 12.50 | 0 | 29 | 823 |
| 15.00 | 52 | 323 | 30 |
| 17.50 | 2 | 0 | 175 |
| 20.00 | 3 | 0 | 325 |

## By Expiration

| Expiration | Strike Peg | Stock Price | Target Price (bias) | Call OI | Put OI |
|---|---:|---:|---:|---:|---:|
| Nov 20, 2026 | 15.00 | 12.70 | 14.91 | 63 | 352 |
| Nov 21, 2026 | 15.00 | 12.70 | 14.91 | 63 | 352 |
| Jan 16, 2027 | 12.50 | 12.70 | 12.11 | 937 | 384 |
| Apr 17, 2027 | 17.50 | 12.70 | 17.52 | 102 | 1 |

Max Pain© is a registered trademark. The peg is computed from open interest in the day's option snapshot.

## More for IRS

- [Quote](https://www.optionistics.com/quotes/stock-quotes/IRS.md)
- [Option chain](https://www.optionistics.com/quotes/stock-option-chains/IRS.md)
- [Price history](https://www.optionistics.com/quotes/stock-prices/IRS.md)
- [10 day snapshot](https://www.optionistics.com/snapshot.md?symbol=IRS)
- [Strike Pegger (max pain)](https://www.optionistics.com/quotes/strike-pegger/IRS.md)
- [Volatility skew](https://www.optionistics.com/screener/volatility-skew/IRS.md)
- [Put/call ratio](https://www.optionistics.com/screener/put-call-ratio/IRS.md)
- [Trade finder](https://www.optionistics.com/screener/stock-trade-finder/IRS.md)

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