Applied Optoelectronics, Inc.Close $171.33EOD only
Max Pain
$180.00
Next expiry May 22, 2026
Expected Move
±$20.60
12.0% from close
Price Gap
+8.67
Distance to max pain
IV Rank
37
Middle-high premium
P/C OI
1.19
Slightly put-heavy
Consensus
—
No reports available
Published snapshot: May 19, 2026 close
End-of-day snapshot
This page reflects AAOI options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 19, 2026 close
Max Pain — AAOI
Data as of market close May 19, 2026
Nearest listed expiration 2026-05-22 shows max pain at $180.00 (8.67 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$180.00
Nearest expiry
Expected Move
±$20.60
±12.0%
Days to Expiry
3
Calendar days
Total Call OI
19,777
Nearest expiry
Total Put OI
66,231
Nearest expiry
P/C OI Ratio
3.35
Put-heavy
Spot Price
$171.33
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-22
Expiration
Max Pain Strike
Last Updated
2026-05-08
$165.00
5/8/2026, 11:01:18 PM
2026-05-15
$175.00
5/15/2026, 11:01:20 PM
2026-05-22NextUpdated
$180.00
5/19/2026, 11:01:16 PM
2026-05-29
$172.50
5/19/2026, 11:01:16 PM
2026-06-05
$165.00
5/19/2026, 11:01:16 PM
2026-06-12
$185.00
5/19/2026, 11:01:16 PM
2026-06-18
$55.00
5/19/2026, 11:01:16 PM
2026-06-26
$190.00
5/19/2026, 11:01:16 PM
2026-07-17
$155.00
5/19/2026, 11:01:16 PM
2026-09-18
$95.00
5/19/2026, 11:01:16 PM
2026-12-18
$155.00
5/19/2026, 11:01:16 PM
2027-01-15
$70.00
5/19/2026, 11:01:16 PM
Selected expiration: 2026-05-22 at max pain $180.00.
AAOI pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
371521800
371521800
55
0
338432800
338432800
60
0
305357800
305357800
65
0
272360800
272360800
70
0
239364300
239364300
75
1500
206395800
206397300
76
2500
199829500
199832000
77
4000
193275100
193279100
78
5500
186728700
186734200
79
7000
180184600
180191600
80
8800
173648800
173657600
81
11000
167138700
167149700
82
13200
160638200
160651400
83
15600
154142500
154158100
84
18700
147757300
147776000
85
22100
144931600
144953700
86
25500
142199600
142225100
87
29400
139513200
139542600
88
33400
136842700
136876100
89
37400
134187800
134225200
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.