This page reflects ARQT 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 — ARQT
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $20.00 (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
$20.00
Nearest expiry
Expected Move
±$3.15
±15.4%
Days to Expiry
29
Calendar days
Total Call OI
2,633
Nearest expiry
Total Put OI
521
Nearest expiry
P/C OI Ratio
0.20
Put-heavy
Spot Price
$20.47
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
$22.50
4/17/2026, 11:04:00 PM
2026-05-15
$22.50
5/15/2026, 11:03:06 PM
2026-06-18NextUpdated
$20.00
5/20/2026, 11:05:05 PM
2026-09-18
$20.00
5/20/2026, 11:05:05 PM
2026-12-18
$20.00
5/20/2026, 11:05:05 PM
2027-01-15
$12.50
5/20/2026, 11:05:05 PM
Selected expiration: 2026-06-18 at max pain $20.00.
ARQT pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
12.5
0
507000
507000
15
0
377750
377750
17.5
250
248750
249000
20
1750
123500
125250
22.5
65000
78000
143000
25
178000
51500
229500
27.5
337750
28750
366500
30
527250
9500
536750
32.5
937500
4750
942250
35
1347750
0
1347750
40
2304750
0
2304750
45
3618250
0
3618250
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.