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PANW

Palo Alto Networks, Inc.Close $240.13EOD only
Max Pain
$217.50
Next expiry May 22, 2026
Expected Move
±$10.00
4.2% from close
Price Gap
-22.63
Distance to max pain
IV Rank
30
Middle-high premium
P/C OI
1.10
Balanced positioning
Consensus
4/4
Partial coverage
Published snapshot: May 19, 2026 close
End-of-day snapshot

This page reflects PANW options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
May 19, 2026 close
Max Pain — PANW
Data as of market close May 19, 2026
Open Available Reports (4/4)

Nearest listed expiration 2026-05-22 shows max pain at $217.50 (22.63 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike
$217.50
Nearest expiry
Expected Move
±$10.00
±4.2%
Days to Expiry
3
Calendar days
Total Call OI
12,740
Nearest expiry
Total Put OI
10,954
Nearest expiry
P/C OI Ratio
0.86
Put-heavy
Spot Price
$240.13
Published close
Consensus
-
Open report for full read

Max Pain by Expiration

Pain by Strike

Drill into expiration
Selected: 2026-05-22
ExpirationMax Pain StrikeLast Updated
2026-05-08$182.505/8/2026, 11:26:09 PM
2026-05-15$180.005/15/2026, 11:30:50 PM
2026-05-22NextUpdated$217.505/19/2026, 11:25:25 PM
2026-05-29$195.005/19/2026, 11:25:25 PM
2026-06-05$200.005/19/2026, 11:25:25 PM
2026-06-12$215.005/19/2026, 11:25:25 PM
2026-06-18$190.005/19/2026, 11:25:25 PM
2026-06-26$220.005/19/2026, 11:25:25 PM
2026-07-17$175.005/19/2026, 11:25:25 PM
2026-08-21$155.005/19/2026, 11:25:25 PM
2026-09-18$180.005/19/2026, 11:25:25 PM
2026-10-16$200.005/19/2026, 11:25:25 PM
2026-11-20$165.005/19/2026, 11:25:25 PM
2026-12-18$170.005/19/2026, 11:25:25 PM
2027-01-15$185.005/19/2026, 11:25:25 PM
2027-03-19$175.005/19/2026, 11:25:25 PM
Selected expiration: 2026-05-22 at max pain $217.50.
PANW pain by strike for 2026-05-22 expiration
StrikeCall PainPut PainTotal Pain
800123961700123961700
901000113007700113008700
951500107549700107551200
10033000102114700102147700
105655009668570096751200
110995009136070091460200
1151335008628120086414700
1201675008123170081399200
1252015007629520076496700
1302355007151470071750200
1353055006679720067102700
1393983006314960063547900
1404215006223850062660000
1455410005774900058290000
1506690005339200054061000
152.57485005126250052011000
1558282504913600049964250
157.59147504703400047948750
16010020004493200045934000
16512730004092700042200000
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.