This page reflects ALKS options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 18, 2026 close
Max Pain — ALKS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $45.00 (4.48 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$45.00
Nearest expiry
Expected Move
±$2.33
±4.7%
Days to Expiry
3
Calendar days
Total Call OI
10,391
Nearest expiry
Total Put OI
4,051
Nearest expiry
P/C OI Ratio
0.39
Put-heavy
Spot Price
$49.48
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-08-21
Expiration
Max Pain Strike
Last Updated
2026-06-18
$38.00
6/18/2026, 11:02:29 PM
2026-07-17
$45.00
7/17/2026, 11:02:28 PM
2026-08-21NextUpdated
$45.00
8/18/2026, 11:02:34 PM
2026-09-18
$35.00
8/18/2026, 11:02:34 PM
2026-11-20
$45.00
8/18/2026, 11:02:34 PM
2026-12-18
$30.00
8/18/2026, 11:02:34 PM
2027-01-15
$35.00
8/18/2026, 11:02:34 PM
2027-02-19
$46.00
8/18/2026, 11:02:34 PM
Selected expiration: 2026-08-21 at max pain $45.00.
ALKS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
11546300
11546300
20
0
9528300
9528300
21
6100
9125300
9131400
22
12200
8722600
8734800
23
18300
8319900
8338200
24
24400
7917200
7941600
25
30500
7514500
7545000
27
44300
6717500
6761800
29
58100
5920700
5978800
30
65000
5522300
5587300
31
75400
5125700
5201100
32
85800
4729200
4815000
33
96600
4333000
4429600
34
107600
3937000
4044600
35
118600
3542800
3661400
36
155600
3158300
3313900
37
192800
2774200
2967000
38
230700
2390100
2620800
39
346900
2013100
2360000
40
463400
1636100
2099500
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.