This page reflects MANH 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 — MANH
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $145.00 (7.92 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$145.00
Nearest expiry
Expected Move
±$6.35
±4.6%
Days to Expiry
29
Calendar days
Total Call OI
402
Nearest expiry
Total Put OI
358
Nearest expiry
P/C OI Ratio
0.89
Put-heavy
Spot Price
$137.08
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-06-18
Expiration
Max Pain Strike
Last Updated
2026-04-17
$140.00
4/17/2026, 11:17:33 PM
2026-05-15
$130.00
5/15/2026, 11:23:34 PM
2026-06-18NextUpdated
$145.00
5/20/2026, 11:23:15 PM
2026-07-17
$130.00
5/20/2026, 11:23:15 PM
2026-10-16
$130.00
5/20/2026, 11:23:15 PM
Selected expiration: 2026-06-18 at max pain $145.00.
MANH pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
90
0
1425000
1425000
95
0
1246500
1246500
100
0
1069000
1069000
105
0
893000
893000
110
0
722000
722000
115
0
552000
552000
120
0
387500
387500
125
0
230000
230000
130
500
83500
84000
135
6000
52000
58000
140
11500
27500
39000
145
23500
11000
34500
150
40500
1000
41500
155
64500
0
64500
160
95000
0
95000
165
251500
0
251500
170
434500
0
434500
175
632000
0
632000
180
830000
0
830000
185
1029000
0
1029000
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.