What is IREN max pain this week?

IREN max pain for the nearest expiration (2026-05-22) is $54.00. Total call open interest: 112,129. Total put open interest: 136,159.

What is max pain in options?

Max pain is the strike price where option holders (buyers of both puts and calls) would collectively lose the most money at expiration. It represents the point of maximum financial pain for option buyers, and theory suggests stock prices tend to gravitate toward max pain as expiration approaches.

Home Options IRENMax Pain

IREN

IREN LIMITEDClose $47.74EOD only

Max Pain

$54.00

Next expiry May 22, 2026

Expected Move

±$4.32

9.1% from close

Price Gap

+6.26

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.78

Slightly call-heavy

Consensus

4/4

Partial coverage

Published snapshot: May 19, 2026 close

End-of-day snapshot

This page reflects IREN options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 19, 2026 close

Max Pain — IREN

Data as of market close May 19, 2026

Open Available Reports (4/4)

Nearest listed expiration 2026-05-22 shows max pain at $54.00 (6.26 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike

$54.00

Nearest expiry

Expected Move

±$4.32

±9.1%

Days to Expiry

Calendar days

Total Call OI

112,129

Nearest expiry

Total Put OI

136,159

Nearest expiry

P/C OI Ratio

1.21

Put-heavy

Spot Price

$47.74

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	$49.00	5/8/2026, 11:19:07 PM
2026-05-15	$52.00	5/15/2026, 11:19:59 PM
2026-05-22NextUpdated	$54.00	5/19/2026, 11:19:05 PM
2026-05-29	$50.00	5/19/2026, 11:19:05 PM
2026-06-05	$50.00	5/19/2026, 11:19:05 PM
2026-06-12	$55.00	5/19/2026, 11:19:05 PM
2026-06-18	$47.00	5/19/2026, 11:19:05 PM
2026-06-26	$54.00	5/19/2026, 11:19:05 PM
2026-07-17	$44.00	5/19/2026, 11:19:05 PM
2026-08-21	$50.00	5/19/2026, 11:19:05 PM
2026-09-18	$55.00	5/19/2026, 11:19:05 PM
2026-10-16	$45.00	5/19/2026, 11:19:05 PM
2026-11-20	$60.00	5/19/2026, 11:19:05 PM
2026-12-18	$40.00	5/19/2026, 11:19:05 PM
2027-01-15	$30.00	5/19/2026, 11:19:05 PM

Selected expiration: 2026-05-22 at max pain $54.00.

IREN pain by strike for 2026-05-22 expiration
Strike	Call Pain	Put Pain	Total Pain
20	0	307607800	307607800
23	2100	267128200	267130300
24	2800	253667400	253670200
25	3500	240214400	240217900
26	4200	226809800	226814000
27	4900	213433400	213438300
28	6300	200061800	200068100
29	7900	186908500	186916400
29.5	8700	180351950	180360650
30	9500	173849300	173858800
30.5	10750	167398650	167409400
31	12000	160949150	160961150
31.5	13250	154510250	154523500
32	14500	148082300	148096800
32.5	16950	141840600	141857550
33	19400	135600200	135619600
33.5	22600	130679150	130701750
34	25800	125761300	125787100
34.5	30100	121027050	121057150
35	34400	116312700	116347100

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.