Alexandria Real Estate EquitiesClose $47.84EOD only
Max Pain
$45.00
Next expiry Jun 18, 2026
Expected Move
±$4.75
9.9% from close
Price Gap
-2.84
Distance to max pain
IV Rank
4
Low premium
P/C OI
1.57
Slightly put-heavy
Consensus
—
No reports available
Published snapshot: May 20, 2026 close
End-of-day snapshot
This page reflects ARE 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 — ARE
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $45.00 (2.84 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
±$4.75
±9.9%
Days to Expiry
29
Calendar days
Total Call OI
3,162
Nearest expiry
Total Put OI
4,217
Nearest expiry
P/C OI Ratio
1.33
Put-heavy
Spot Price
$47.84
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
$47.50
4/17/2026, 11:04:52 PM
2026-05-15
$45.00
5/15/2026, 11:04:12 PM
2026-06-18NextUpdated
$45.00
5/20/2026, 11:03:32 PM
2026-07-17
$50.00
5/20/2026, 11:03:32 PM
2026-10-16
$60.00
5/20/2026, 11:03:32 PM
2027-01-15
$57.50
5/20/2026, 11:03:32 PM
Selected expiration: 2026-06-18 at max pain $45.00.
ARE pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
27.5
0
4527750
4527750
30
0
3474000
3474000
32.5
0
2445750
2445750
35
0
1444250
1444250
37.5
0
999000
999000
40
6500
618000
624500
42.5
21000
328500
349500
45
51000
94000
145000
47.5
191000
31250
222250
50
465750
8000
473750
52.5
918250
750
919000
55
1447250
0
1447250
57.5
2220250
0
2220250
60
2997250
0
2997250
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.