This page reflects IOVA 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 — IOVA
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $0.50 (3.04 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$0.50
Nearest expiry
Expected Move
±$0.33
±9.2%
Days to Expiry
2
Calendar days
Total Call OI
2,861
Nearest expiry
Total Put OI
428
Nearest expiry
P/C OI Ratio
0.15
Put-heavy
Spot Price
$3.54
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
$3.50
5/8/2026, 11:16:41 PM
2026-05-15
$3.50
5/15/2026, 11:21:16 PM
2026-05-22NextUpdated
$0.50
5/20/2026, 11:14:57 PM
2026-05-29
$0.50
5/20/2026, 11:14:57 PM
2026-06-05
$0.50
5/20/2026, 11:14:57 PM
2026-06-12
$0.50
5/20/2026, 11:14:57 PM
2026-06-18
$3.00
5/20/2026, 11:14:57 PM
2026-06-26
$0.50
5/20/2026, 11:14:57 PM
2026-07-17
$4.00
5/20/2026, 11:14:57 PM
2026-09-18
$3.50
5/20/2026, 11:14:57 PM
2026-12-18
$5.00
5/20/2026, 11:14:57 PM
2027-01-15
$3.00
5/20/2026, 11:14:57 PM
Selected expiration: 2026-05-22 at max pain $0.50.
IOVA pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
122450
122450
1
26200
101050
127250
1.5
57800
79650
137450
2
98800
58250
157050
2.5
140850
36850
177700
3
184650
15600
200250
3.5
230650
1800
232450
4
312850
250
313100
4.5
425950
50
426000
5
566550
0
566550
8
1424550
0
1424550
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.