This page reflects AXSM 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 — AXSM
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $195.00 (35.62 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$195.00
Nearest expiry
Expected Move
±$17.70
±7.7%
Days to Expiry
29
Calendar days
Total Call OI
3,339
Nearest expiry
Total Put OI
4,508
Nearest expiry
P/C OI Ratio
1.35
Put-heavy
Spot Price
$230.62
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
$160.00
4/17/2026, 11:06:08 PM
2026-05-15
$180.00
5/15/2026, 11:04:45 PM
2026-06-18NextUpdated
$195.00
5/20/2026, 11:04:42 PM
2026-09-18
$180.00
5/20/2026, 11:04:42 PM
2026-12-18
$110.00
5/20/2026, 11:04:42 PM
2027-01-15
$160.00
5/20/2026, 11:04:42 PM
2027-03-19
$220.00
5/20/2026, 11:04:42 PM
Selected expiration: 2026-06-18 at max pain $195.00.
AXSM pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
70
0
42546000
42546000
75
6000
40298000
40304000
80
12000
38053500
38065500
85
18000
35815500
35833500
90
24000
33581500
33605500
95
30500
31360000
31390500
100
37000
29152000
29189000
105
173500
27077000
27250500
110
310500
25023000
25333500
115
451000
22978500
23429500
120
594500
20939500
21534000
125
752000
18904000
19656000
130
913000
16876500
17789500
135
1078500
15000500
16079000
140
1249500
13232500
14482000
145
1427000
11475500
12902500
150
1616500
9729000
11345500
155
1837000
8297000
10134000
160
2064500
6880500
8945000
165
2322500
5798500
8121000
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.