This page reflects ENVX 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 — ENVX
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $6.00 (0.36 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$6.00
Nearest expiry
Expected Move
±$0.37
±5.8%
Days to Expiry
2
Calendar days
Total Call OI
6,808
Nearest expiry
Total Put OI
3,094
Nearest expiry
P/C OI Ratio
0.45
Put-heavy
Spot Price
$6.36
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
$6.50
5/8/2026, 11:12:37 PM
2026-05-15
$6.50
5/15/2026, 11:14:54 PM
2026-05-22NextUpdated
$6.00
5/20/2026, 11:12:19 PM
2026-05-29
$6.00
5/20/2026, 11:12:19 PM
2026-06-05
$7.00
5/20/2026, 11:12:19 PM
2026-06-12
$6.50
5/20/2026, 11:12:19 PM
2026-06-18
$6.00
5/20/2026, 11:12:19 PM
2026-06-26
$7.50
5/20/2026, 11:12:19 PM
2026-07-17
$6.00
5/20/2026, 11:12:19 PM
2026-10-16
$5.00
5/20/2026, 11:12:19 PM
2027-01-15
$7.00
5/20/2026, 11:12:19 PM
Selected expiration: 2026-05-22 at max pain $6.00.
ENVX pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
1509500
1509500
1.5
200
1354850
1355050
2
650
1200200
1200850
2.5
2100
1045550
1047650
3.5
5400
736250
741650
4
7050
581600
588650
4.5
8700
427300
436000
5
23450
288150
311600
5.5
39050
154950
194000
6
68200
73850
142050
6.5
134350
29700
164050
7
262400
8350
270750
7.5
441750
2700
444450
8
644500
1800
646300
8.5
877000
1050
878050
9
1137000
300
1137300
9.5
1419550
250
1419800
10
1706050
200
1706250
10.5
2042200
150
2042350
11
2378450
100
2378550
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.