Artisan Partners Asset ManagemeClose $36.45EOD only
Max Pain
$39.43
Next expiry Jun 18, 2026
Expected Move
±$9.35
25.6% from close
Price Gap
+2.98
Distance to max pain
IV Rank
56
Middle-high premium
P/C OI
0.66
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: May 20, 2026 close
End-of-day snapshot
This page reflects APAM 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 — APAM
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $39.43 (2.98 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$39.43
Nearest expiry
Expected Move
±$9.35
±25.6%
Days to Expiry
29
Calendar days
Total Call OI
1,957
Nearest expiry
Total Put OI
546
Nearest expiry
P/C OI Ratio
0.28
Put-heavy
Spot Price
$36.45
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
$35.00
4/17/2026, 11:03:20 PM
2026-05-15
$40.00
5/15/2026, 11:02:57 PM
2026-06-18NextUpdated
$39.43
5/20/2026, 11:02:46 PM
2026-09-18
$39.43
5/20/2026, 11:02:46 PM
2026-12-18
$55.00
5/20/2026, 11:02:46 PM
Selected expiration: 2026-06-18 at max pain $39.43.
APAM pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
21.93
0
770923
770923
22.5
0
739801
739801
24.43
0
634423
634423
25
0
603301
603301
29.43
0
363195
363195
30
0
332814
332814
34.43
0
99353
99353
35
0
87725
87725
39.43
443
19946
20389
40
20108
14531
34639
44.43
189334
798
190132
45
249697
0
249697
49.43
999696
0
999696
50
1102923
0
1102923
54.43
1969431
0
1969431
55
2080923
0
2080923
59.43
2947431
0
2947431
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.