This page reflects AXON 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 — AXON
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $400.00 (1.56 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$400.00
Nearest expiry
Expected Move
±$17.05
±4.3%
Days to Expiry
2
Calendar days
Total Call OI
2,578
Nearest expiry
Total Put OI
2,419
Nearest expiry
P/C OI Ratio
0.94
Put-heavy
Spot Price
$398.44
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-22
Expiration
Max Pain Strike
Last Updated
2026-05-08
$392.50
5/8/2026, 11:06:16 PM
2026-05-15
$390.00
5/15/2026, 11:04:57 PM
2026-05-22NextUpdated
$400.00
5/20/2026, 11:04:51 PM
2026-05-29
$410.00
5/20/2026, 11:04:51 PM
2026-06-05
$390.00
5/20/2026, 11:04:51 PM
2026-06-12
$400.00
5/20/2026, 11:04:51 PM
2026-06-18
$450.00
5/20/2026, 11:04:51 PM
2026-06-26
$395.00
5/20/2026, 11:04:51 PM
2026-07-17
$400.00
5/20/2026, 11:04:51 PM
2026-09-18
$450.00
5/20/2026, 11:04:51 PM
2026-12-18
$450.00
5/20/2026, 11:04:51 PM
2027-01-15
$560.00
5/20/2026, 11:04:51 PM
2027-03-19
$410.00
5/20/2026, 11:04:51 PM
Selected expiration: 2026-05-22 at max pain $400.00.
AXON pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
200
0
34748000
34748000
210
0
32330000
32330000
220
0
29913000
29913000
240
0
25083000
25083000
250
0
22681000
22681000
255
0
21604500
21604500
260
500
20528000
20528500
270
2500
18381000
18383500
275
3500
17316500
17320000
280
5000
16252000
16257000
282.5
6000
15723500
15729500
287.5
9500
14666500
14676000
290
11250
14138250
14149500
295
14750
13095750
13110500
297.5
16500
12583500
12600000
300
18750
12074500
12093250
302.5
21000
11573750
11594750
305
23500
11075750
11099250
307.5
26000
10585000
10611000
310
28500
10095000
10123500
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.