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IBM

International Business MachinesClose $225.00EOD only
Max Pain
$220.00
Next expiry May 22, 2026
Expected Move
±$5.32
2.4% from close
Price Gap
-5.00
Distance to max pain
IV Rank
2
Low premium
P/C OI
0.84
Slightly call-heavy
Consensus
4/4
Partial coverage
Published snapshot: May 20, 2026 close
End-of-day snapshot

This page reflects IBM 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 — IBM
Data as of market close May 20, 2026
Open Available Reports (4/4)

Nearest listed expiration 2026-05-22 shows max pain at $220.00 (5.00 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike
$220.00
Nearest expiry
Expected Move
±$5.32
±2.4%
Days to Expiry
2
Calendar days
Total Call OI
14,063
Nearest expiry
Total Put OI
8,765
Nearest expiry
P/C OI Ratio
0.62
Put-heavy
Spot Price
$225.00
Published close
Consensus
-
Open report for full read

Max Pain by Expiration

Pain by Strike

Drill into expiration
Selected: 2026-05-22
ExpirationMax Pain StrikeLast Updated
2026-05-08$232.505/8/2026, 11:13:52 PM
2026-05-15$227.505/15/2026, 11:16:48 PM
2026-05-22NextUpdated$220.005/20/2026, 11:18:16 PM
2026-05-29$225.005/20/2026, 11:18:16 PM
2026-06-05$225.005/20/2026, 11:18:16 PM
2026-06-12$220.005/20/2026, 11:18:16 PM
2026-06-18$240.005/20/2026, 11:18:16 PM
2026-06-26$225.005/20/2026, 11:18:16 PM
2026-07-17$240.005/20/2026, 11:18:16 PM
2026-08-21$240.005/20/2026, 11:18:16 PM
2026-09-18$280.005/20/2026, 11:18:16 PM
2026-10-16$230.005/20/2026, 11:18:16 PM
2026-11-20$240.005/20/2026, 11:18:16 PM
2026-12-18$240.005/20/2026, 11:18:16 PM
2027-01-15$260.005/20/2026, 11:18:16 PM
2027-03-19$240.005/20/2026, 11:18:16 PM
Selected expiration: 2026-05-22 at max pain $220.00.
IBM pain by strike for 2026-05-22 expiration
StrikeCall PainPut PainTotal Pain
13006926600069266000
14010006050500060506000
16030004298700042990000
16535003863250038636000
17040003440400034408000
17545003030150030306000
18050002625850026263500
18555002228000022285500
19060001843250018438500
192.562501654050016546750
19565001464950014656000
197.567501281475012821500
20070001098550010992500
202.5750092972509304750
205825077477507756000
207.51325063330006346250
2101850049492504967750
212.53850038197503858250
2159650028130002909500
217.530050020167502317250
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.