Norwegian Cruise Line Holdings Close $16.03EOD only
Max Pain
$16.00
Next expiry May 22, 2026
Expected Move
±$0.70
4.4% from close
Price Gap
-0.03
Distance to max pain
IV Rank
3
Low premium
P/C OI
0.90
Balanced positioning
Consensus
—
No reports available
Published snapshot: May 20, 2026 close
End-of-day snapshot
This page reflects NCLH 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 — NCLH
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $16.00 (0.03 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$16.00
Nearest expiry
Expected Move
±$0.70
±4.4%
Days to Expiry
2
Calendar days
Total Call OI
14,553
Nearest expiry
Total Put OI
12,150
Nearest expiry
P/C OI Ratio
0.83
Put-heavy
Spot Price
$16.03
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
$17.50
5/8/2026, 11:24:48 PM
2026-05-15
$17.00
5/15/2026, 11:25:25 PM
2026-05-22NextUpdated
$16.00
5/20/2026, 11:26:04 PM
2026-05-29
$17.00
5/20/2026, 11:26:04 PM
2026-06-05
$16.00
5/20/2026, 11:26:04 PM
2026-06-12
$16.00
5/20/2026, 11:26:04 PM
2026-06-18
$19.00
5/20/2026, 11:26:04 PM
2026-06-26
$15.00
5/20/2026, 11:26:04 PM
2026-07-17
$15.00
5/20/2026, 11:26:04 PM
2026-09-18
$20.00
5/20/2026, 11:26:04 PM
2026-12-18
$20.00
5/20/2026, 11:26:04 PM
2027-01-15
$20.00
5/20/2026, 11:26:04 PM
2027-03-19
$20.00
5/20/2026, 11:26:04 PM
Selected expiration: 2026-05-22 at max pain $16.00.
NCLH pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
10
0
6253900
6253900
11
30300
5038900
5069200
12
70700
3850400
3921100
13
111700
2684200
2795900
13.5
132600
2135750
2268350
14
153650
1593800
1747450
14.5
181650
1124500
1306150
15
240600
699550
940150
15.5
318650
403000
721650
16
499050
220650
719700
16.5
774700
116650
891350
17
1113250
46150
1159400
17.5
1602500
32050
1634550
18
2126200
19500
2145700
18.5
2692350
14050
2706400
19
3276450
9150
3285600
19.5
3874950
6950
3881900
20
4485600
4800
4490400
20.5
5167350
4400
5171750
21
5849300
4000
5853300
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.