This page reflects ADTN 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 — ADTN
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $14.00 (0.47 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$14.00
Nearest expiry
Expected Move
±$2.17
±15.0%
Days to Expiry
29
Calendar days
Total Call OI
3,660
Nearest expiry
Total Put OI
2,168
Nearest expiry
P/C OI Ratio
0.59
Put-heavy
Spot Price
$14.47
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
$12.00
4/17/2026, 11:01:34 PM
2026-05-15
$16.00
5/15/2026, 11:01:29 PM
2026-06-18NextUpdated
$14.00
5/20/2026, 11:01:49 PM
2026-08-21
$10.00
5/20/2026, 11:01:49 PM
2026-11-20
$9.00
5/20/2026, 11:01:49 PM
Selected expiration: 2026-06-18 at max pain $14.00.
ADTN pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
9
0
892800
892800
10
100
676000
676100
12
700
242400
243100
13
1000
26200
27200
14
3000
12700
15700
15
16700
7800
24500
16
45400
4500
49900
17
89100
3000
92100
18
149400
1900
151300
19
227300
1000
228300
20
305900
400
306300
21
658600
100
658700
22
1011300
0
1011300
23
1376800
0
1376800
24
1742300
0
1742300
25
2107800
0
2107800
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.