This page reflects ELV 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 — ELV
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $290.00 (106.21 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$290.00
Nearest expiry
Expected Move
±$27.40
±6.9%
Days to Expiry
29
Calendar days
Total Call OI
8,326
Nearest expiry
Total Put OI
3,606
Nearest expiry
P/C OI Ratio
0.43
Put-heavy
Spot Price
$396.21
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
$300.00
4/17/2026, 11:13:47 PM
2026-05-15
$330.00
5/15/2026, 11:12:58 PM
2026-06-18NextUpdated
$290.00
5/20/2026, 11:11:52 PM
2026-07-17
$370.00
5/20/2026, 11:11:52 PM
2026-08-21
$390.00
5/20/2026, 11:11:52 PM
2026-09-18
$340.00
5/20/2026, 11:11:52 PM
2026-12-18
$370.00
5/20/2026, 11:11:52 PM
2027-01-15
$340.00
5/20/2026, 11:11:52 PM
2027-03-19
$350.00
5/20/2026, 11:11:52 PM
Selected expiration: 2026-06-18 at max pain $290.00.
ELV pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
140
0
59808500
59808500
145
0
58006000
58006000
150
0
56205000
56205000
175
32500
47200000
47232500
180
39000
45401000
45440000
185
46500
43622000
43668500
190
54000
41843000
41897000
195
62000
40072500
40134500
200
70000
38302000
38372000
210
103000
34801000
34904000
220
137000
31378000
31515000
230
171000
28014000
28185000
240
205000
24705000
24910000
250
239000
21436000
21675000
260
277000
18289000
18566000
270
324000
15389000
15713000
280
375000
12589000
12964000
290
2724000
9990000
12714000
300
5171000
7788000
12959000
310
7747000
5855000
13602000
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.