What is NVO max pain this week?

NVO max pain for the nearest expiration (2026-05-22) is $44.50. Total call open interest: 19,813. Total put open interest: 13,752.

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 NVOMax Pain

NVO

Novo Nordisk A/SClose $45.07EOD only

Max Pain

$44.50

Next expiry May 22, 2026

Expected Move

±$1.17

2.6% from close

Price Gap

-0.57

Distance to max pain

IV Rank

Low premium

P/C OI

0.68

Slightly call-heavy

Consensus

4/4

Partial coverage

Published snapshot: May 20, 2026 close

End-of-day snapshot

This page reflects NVO 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 — NVO

Data as of market close May 20, 2026

Open Available Reports (4/4)

Nearest listed expiration 2026-05-22 shows max pain at $44.50 (0.57 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike

$44.50

Nearest expiry

Expected Move

±$1.17

±2.6%

Days to Expiry

Calendar days

Total Call OI

19,813

Nearest expiry

Total Put OI

13,752

Nearest expiry

P/C OI Ratio

0.69

Put-heavy

Spot Price

$45.07

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	$42.50	5/8/2026, 11:23:55 PM
2026-05-15	$41.00	5/15/2026, 11:27:51 PM
2026-05-22NextUpdated	$44.50	5/20/2026, 11:24:07 PM
2026-05-29	$45.00	5/20/2026, 11:24:07 PM
2026-06-05	$44.00	5/20/2026, 11:24:07 PM
2026-06-12	$44.00	5/20/2026, 11:24:07 PM
2026-06-18	$45.00	5/20/2026, 11:24:07 PM
2026-06-26	$45.00	5/20/2026, 11:24:07 PM
2026-07-17	$40.00	5/20/2026, 11:24:07 PM
2026-08-21	$45.00	5/20/2026, 11:24:07 PM
2026-09-18	$45.00	5/20/2026, 11:24:07 PM
2026-12-18	$45.00	5/20/2026, 11:24:07 PM
2027-01-15	$50.00	5/20/2026, 11:24:07 PM
2027-03-19	$40.00	5/20/2026, 11:24:07 PM

Selected expiration: 2026-05-22 at max pain $44.50.

NVO pain by strike for 2026-05-22 expiration
Strike	Call Pain	Put Pain	Total Pain
25	0	23128300	23128300
28	0	19004500	19004500
29	0	17630700	17630700
30	0	16264200	16264200
31	500	14930600	14931100
32	1000	13598100	13599100
32.5	9650	12937550	12947200
33	18400	12277000	12295400
34	36400	10976800	11013200
35	54400	9692000	9746400
35.5	68550	9096400	9164950
36	84050	8500800	8584850
36.5	100000	7914150	8014150
37	116000	7327500	7443500
37.5	138700	6754400	6893100
38	162250	6241900	6404150
38.5	193900	5746950	5940850
39	225800	5253300	5479100
39.5	269200	4767700	5036900
40	312700	4284800	4597500

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.