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IBM

International Business MachinesClose $252.97EOD only
Max Pain
$220.00
Next expiry May 22, 2026
Expected Move
±$1.58
0.6% from close
Price Gap
-32.97
Distance to max pain
IV Rank
39
Middle-high premium
P/C OI
0.84
Slightly call-heavy
Consensus
4/4
Partial coverage
Published snapshot: May 21, 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 21, 2026 close
Max Pain — IBM
Data as of market close May 21, 2026
Open Available Reports (4/4)

Nearest listed expiration 2026-05-22 shows max pain at $220.00 (32.97 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
±$1.58
±0.6%
Days to Expiry
1
Calendar days
Total Call OI
14,800
Nearest expiry
Total Put OI
9,030
Nearest expiry
P/C OI Ratio
0.61
Put-heavy
Spot Price
$252.97
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$220.005/21/2026, 11:17:41 PM
2026-05-29$225.005/21/2026, 11:17:41 PM
2026-06-05$225.005/21/2026, 11:17:41 PM
2026-06-12$220.005/21/2026, 11:17:41 PM
2026-06-18$240.005/21/2026, 11:17:41 PM
2026-06-26$225.005/21/2026, 11:17:41 PM
2026-07-17$240.005/21/2026, 11:17:41 PM
2026-08-21$240.005/21/2026, 11:17:41 PM
2026-09-18$280.005/21/2026, 11:17:41 PM
2026-10-16$230.005/21/2026, 11:17:41 PM
2026-11-20$235.005/21/2026, 11:17:41 PM
2026-12-18$240.005/21/2026, 11:17:41 PM
2027-01-15$260.005/21/2026, 11:17:41 PM
2027-03-19$240.005/21/2026, 11:17:41 PM
Selected expiration: 2026-05-22 at max pain $220.00.
IBM pain by strike for 2026-05-22 expiration
StrikeCall PainPut PainTotal Pain
13007133800071338000
14010006231200062313000
16030004427600044279000
16535003979350039797000
17040003543850035442500
17545003121100031215500
18050002704300027048000
18555002293950022945000
19060001896700018973000
192.562501701250017018750
19565001505900015065500
197.567501316200013168750
20070001127050011277500
202.5750095222509529750
205825079327507941000
207.51325064745006487750
2101850050457505064250
212.53825038560003894250
2159725027925002889750
217.529500019657502260750
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.