This page reflects CIEN 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 — CIEN
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $530.00 (24.76 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$530.00
Nearest expiry
Expected Move
±$40.00
±7.2%
Days to Expiry
2
Calendar days
Total Call OI
7,865
Nearest expiry
Total Put OI
7,601
Nearest expiry
P/C OI Ratio
0.97
Put-heavy
Spot Price
$554.76
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
$520.00
5/8/2026, 11:07:17 PM
2026-05-15
$525.00
5/15/2026, 11:09:36 PM
2026-05-22NextUpdated
$530.00
5/20/2026, 11:10:00 PM
2026-05-29
$515.00
5/20/2026, 11:10:00 PM
2026-06-05
$515.00
5/20/2026, 11:10:00 PM
2026-06-12
$490.00
5/20/2026, 11:10:00 PM
2026-06-18
$330.00
5/20/2026, 11:10:00 PM
2026-06-26
$560.00
5/20/2026, 11:10:00 PM
2026-07-17
$380.00
5/20/2026, 11:10:00 PM
2026-10-16
$460.00
5/20/2026, 11:10:00 PM
2026-12-18
$350.00
5/20/2026, 11:10:00 PM
2027-01-15
$320.00
5/20/2026, 11:10:00 PM
2027-03-19
$310.00
5/20/2026, 11:10:00 PM
Selected expiration: 2026-05-22 at max pain $530.00.
CIEN pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
210
0
193017250
193017250
225
1500
181660750
181662250
230
2500
177875250
177877750
235
3500
174092250
174095750
240
4500
170321750
170326250
250
6500
162817750
162824250
255
7500
159199250
159206750
260
8500
155581250
155589750
265
9500
151963250
151972750
270
10500
148347250
148357750
275
11500
144731750
144743250
280
12500
141117750
141130250
290
14500
133969750
133984250
295
15500
130398750
130414250
300
16500
126831250
126847750
310
18500
119717250
119735750
315
20000
116161750
116181750
320
21500
112608750
112630250
325
24000
109059750
109083750
330
26500
105517250
105543750
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.