This page reflects NVS 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 — NVS
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $150.00 (0.45 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$150.00
Nearest expiry
Expected Move
±$8.25
±5.5%
Days to Expiry
29
Calendar days
Total Call OI
4,584
Nearest expiry
Total Put OI
7,696
Nearest expiry
P/C OI Ratio
1.68
Put-heavy
Spot Price
$150.45
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
$150.00
4/17/2026, 11:21:56 PM
2026-05-15
$145.00
5/15/2026, 11:28:21 PM
2026-06-18NextUpdated
$150.00
5/20/2026, 11:27:03 PM
2026-07-17
$155.00
5/20/2026, 11:27:03 PM
2026-08-21
$150.00
5/20/2026, 11:27:03 PM
2026-09-18
$155.00
5/20/2026, 11:27:03 PM
2026-10-16
$150.00
5/20/2026, 11:27:03 PM
2026-11-20
$150.00
5/20/2026, 11:27:03 PM
2026-12-18
$160.00
5/20/2026, 11:27:03 PM
2027-01-15
$155.00
5/20/2026, 11:27:03 PM
Selected expiration: 2026-06-18 at max pain $150.00.
NVS pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
70
0
54019000
54019000
75
0
50171000
50171000
80
0
46323000
46323000
85
0
42475000
42475000
95
0
34779000
34779000
100
0
30932500
30932500
105
0
27177000
27177000
110
0
23421500
23421500
115
0
19666000
19666000
120
4000
15914000
15918000
125
10500
12192500
12203000
130
17000
8599000
8616000
135
26000
5165500
5191500
140
37500
2434000
2471500
145
76000
1595500
1671500
150
321000
918500
1239500
155
834000
426500
1260500
160
1989500
8000
1997500
165
3518500
0
3518500
170
5343000
0
5343000
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.