This page reflects IOT 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 — IOT
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $29.50 (1.13 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$29.50
Nearest expiry
Expected Move
±$1.47
±4.8%
Days to Expiry
2
Calendar days
Total Call OI
2,339
Nearest expiry
Total Put OI
2,037
Nearest expiry
P/C OI Ratio
0.87
Put-heavy
Spot Price
$30.63
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
$28.50
5/8/2026, 11:19:03 PM
2026-05-15
$29.00
5/15/2026, 11:16:41 PM
2026-05-22NextUpdated
$29.50
5/20/2026, 11:18:02 PM
2026-05-29
$29.00
5/20/2026, 11:18:02 PM
2026-06-05
$26.00
5/20/2026, 11:18:02 PM
2026-06-12
$29.00
5/20/2026, 11:18:02 PM
2026-06-18
$30.00
5/20/2026, 11:18:02 PM
2026-06-26
$27.00
5/20/2026, 11:18:02 PM
2026-07-17
$30.00
5/20/2026, 11:18:02 PM
2026-08-21
$30.00
5/20/2026, 11:18:02 PM
2026-09-18
$30.00
5/20/2026, 11:18:02 PM
2026-10-16
$29.00
5/20/2026, 11:18:02 PM
2026-12-18
$25.00
5/20/2026, 11:18:02 PM
2027-01-15
$35.00
5/20/2026, 11:18:02 PM
Selected expiration: 2026-05-22 at max pain $29.50.
IOT pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
17
0
2102950
2102950
18
0
1899250
1899250
19
1200
1695550
1696750
20
2600
1491850
1494450
22
6000
1084450
1090450
22.5
6850
982850
989700
23
7700
881500
889200
23.5
8550
780200
788750
24
9650
679000
688650
24.5
10750
578200
588950
25
12050
477400
489450
25.5
14150
379250
393400
26
16300
281250
297550
26.5
18550
185100
203650
27
20850
90150
111000
27.5
23200
71750
94950
28
25600
54500
80100
28.5
28150
42350
70500
29
30700
31400
62100
29.5
34750
24100
58850
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.