Elanco Animal Health IncorporatClose $23.64EOD only
Max Pain
$24.00
Next expiry Aug 21, 2026
Expected Move
±$0.90
3.8% from close
Price Gap
+0.36
Distance to max pain
IV Rank
11
Low premium
P/C OI
0.80
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Aug 18, 2026 close
End-of-day snapshot
This page reflects ELAN options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 18, 2026 close
Max Pain — ELAN
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $24.00 (0.36 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$24.00
Nearest expiry
Expected Move
±$0.90
±3.8%
Days to Expiry
3
Calendar days
Total Call OI
2,293
Nearest expiry
Total Put OI
4,027
Nearest expiry
P/C OI Ratio
1.76
Put-heavy
Spot Price
$23.64
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-08-21
Expiration
Max Pain Strike
Last Updated
2026-06-18
$21.00
6/18/2026, 11:11:24 PM
2026-07-17
$25.00
7/17/2026, 11:12:51 PM
2026-08-21NextUpdated
$24.00
8/18/2026, 11:12:08 PM
2026-09-18
$23.00
8/18/2026, 11:12:08 PM
2026-10-16
$20.00
8/18/2026, 11:12:08 PM
2027-01-15
$18.00
8/18/2026, 11:12:08 PM
Selected expiration: 2026-08-21 at max pain $24.00.
ELAN pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
2965400
2965400
17
200
2160000
2160200
18
300
1757600
1757900
19
400
1355400
1355800
20
600
954200
954800
21
2400
669900
672300
22
4500
390900
395400
23
7500
145700
153200
24
23900
73600
97500
25
100300
2200
102500
26
276000
0
276000
27
482500
0
482500
28
696000
0
696000
29
912000
0
912000
30
1132000
0
1132000
31
1360300
0
1360300
32
1588800
0
1588800
33
1817900
0
1817900
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.