Elanco Animal Health IncorporatClose $20.85EOD only
Max Pain
$21.00
Next expiry Jun 18, 2026
Expected Move
±$2.12
10.2% from close
Price Gap
+0.15
Distance to max pain
IV Rank
5
Low premium
P/C OI
0.71
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: May 20, 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
May 20, 2026 close
Max Pain — ELAN
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $21.00 (0.15 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$21.00
Nearest expiry
Expected Move
±$2.12
±10.2%
Days to Expiry
29
Calendar days
Total Call OI
3,547
Nearest expiry
Total Put OI
4,680
Nearest expiry
P/C OI Ratio
1.32
Put-heavy
Spot Price
$20.85
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
$22.00
4/17/2026, 11:11:11 PM
2026-05-15
$23.00
5/15/2026, 11:14:31 PM
2026-06-18NextUpdated
$21.00
5/20/2026, 11:11:41 PM
2026-07-17
$21.00
5/20/2026, 11:11:41 PM
2026-10-16
$18.00
5/20/2026, 11:11:41 PM
2027-01-15
$17.00
5/20/2026, 11:11:41 PM
Selected expiration: 2026-06-18 at max pain $21.00.
ELAN pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
2193800
2193800
16
300
1725800
1726100
17
600
1258000
1258600
18
900
855300
856200
19
1400
453100
454500
20
1900
53500
55400
21
9900
15300
25200
22
19600
6600
26200
23
31300
3400
34700
24
56100
1000
57100
25
82400
600
83000
26
116600
200
116800
27
155700
0
155700
28
507400
0
507400
29
860100
0
860100
30
1213600
0
1213600
32
1923000
0
1923000
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.