Elanco Animal Health IncorporatClose $22.14EOD only
Max Pain
$22.00
Next expiry Oct 16, 2026
Expected Move
±$1.32
6.0% from close
Price Gap
-0.14
Distance to max pain
IV Rank
5
Low premium
P/C OI
0.39
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Oct 2, 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
Oct 2, 2026 close
Max Pain — ELAN
Data as of market close Oct 2, 2026
Nearest listed expiration 2026-10-16 shows max pain at $22.00 (0.14 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$22.00
Nearest expiry
Expected Move
±$1.32
±6.0%
Days to Expiry
14
Calendar days
Total Call OI
4,370
Nearest expiry
Total Put OI
1,290
Nearest expiry
P/C OI Ratio
0.30
Put-heavy
Spot Price
$22.14
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-10-16
Expiration
Max Pain Strike
Last Updated
2026-08-21
$24.00
8/21/2026, 11:12:20 PM
2026-09-18
$23.00
9/18/2026, 11:11:35 PM
2026-10-16NextUpdated
$22.00
10/2/2026, 11:11:25 PM
2026-11-20
$21.00
10/2/2026, 11:11:25 PM
2027-01-15
$22.00
10/2/2026, 11:11:25 PM
2027-04-16
$20.00
10/2/2026, 11:11:25 PM
Selected expiration: 2026-10-16 at max pain $22.00.
ELAN pain by strike for 2026-10-16 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
878500
878500
16
0
749500
749500
17
0
621000
621000
18
0
495100
495100
19
0
369200
369200
20
21600
245700
267300
21
48900
141500
190400
22
139400
42700
182100
23
235100
17100
252200
24
426600
3300
429900
25
711900
1000
712900
26
1039600
300
1039900
27
1372800
0
1372800
28
1739500
0
1739500
29
2132200
0
2132200
30
2537600
0
2537600
31
2963000
0
2963000
32
3393000
0
3393000
33
3827500
0
3827500
34
4264100
0
4264100
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.