This page reflects NVAX 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 — NVAX
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $9.00 (0.27 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$9.00
Nearest expiry
Expected Move
±$0.46
±5.0%
Days to Expiry
2
Calendar days
Total Call OI
7,710
Nearest expiry
Total Put OI
3,335
Nearest expiry
P/C OI Ratio
0.43
Put-heavy
Spot Price
$9.27
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
$8.00
5/8/2026, 11:25:31 PM
2026-05-15
$8.00
5/15/2026, 11:24:36 PM
2026-05-22NextUpdated
$9.00
5/20/2026, 11:26:08 PM
2026-05-29
$8.50
5/20/2026, 11:26:08 PM
2026-06-05
$7.50
5/20/2026, 11:26:08 PM
2026-06-12
$8.50
5/20/2026, 11:26:08 PM
2026-06-18
$9.00
5/20/2026, 11:26:08 PM
2026-06-26
$9.50
5/20/2026, 11:26:08 PM
2026-07-17
$8.00
5/20/2026, 11:26:08 PM
2026-10-16
$9.00
5/20/2026, 11:26:08 PM
2027-01-15
$10.00
5/20/2026, 11:26:08 PM
Selected expiration: 2026-05-22 at max pain $9.00.
NVAX pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
3
0
1930400
1930400
4
500
1599700
1600200
4.5
1400
1434750
1436150
5
2500
1270250
1272750
5.5
3750
1106000
1109750
6
5100
941800
946900
6.5
6500
777600
784100
7
8000
613400
621400
7.5
9700
455400
465100
8
11800
298400
310200
8.5
21800
162950
184750
9
43450
46700
90150
9.5
83600
11700
95300
10
170000
7450
177450
10.5
298500
6000
304500
11
450600
5050
455650
11.5
658550
4300
662850
12
869950
3550
873500
12.5
1116400
2900
1119300
13
1381950
2300
1384250
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.