Philip Morris International IncClose $188.63EOD only
Max Pain
$187.50
Next expiry May 22, 2026
Expected Move
±$4.03
2.1% from close
Price Gap
-1.13
Distance to max pain
IV Rank
31
Middle-high premium
P/C OI
1.12
Slightly put-heavy
Consensus
—
No reports available
Published snapshot: May 20, 2026 close
End-of-day snapshot
This page reflects PM 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 — PM
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $187.50 (1.13 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$187.50
Nearest expiry
Expected Move
±$4.03
±2.1%
Days to Expiry
2
Calendar days
Total Call OI
2,139
Nearest expiry
Total Put OI
2,115
Nearest expiry
P/C OI Ratio
0.99
Put-heavy
Spot Price
$188.63
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
$165.00
5/8/2026, 11:26:22 PM
2026-05-15
$170.00
5/15/2026, 11:29:42 PM
2026-05-22NextUpdated
$187.50
5/20/2026, 11:28:46 PM
2026-05-29
$177.50
5/20/2026, 11:28:46 PM
2026-06-05
$170.00
5/20/2026, 11:28:46 PM
2026-06-12
$185.00
5/20/2026, 11:28:46 PM
2026-06-18
$170.00
5/20/2026, 11:28:46 PM
2026-06-26
$175.00
5/20/2026, 11:28:46 PM
2026-07-17
$175.00
5/20/2026, 11:28:46 PM
2026-08-21
$195.00
5/20/2026, 11:28:46 PM
2026-09-18
$170.00
5/20/2026, 11:28:46 PM
2026-11-20
$170.00
5/20/2026, 11:28:46 PM
2026-12-18
$155.00
5/20/2026, 11:28:46 PM
2027-01-15
$150.00
5/20/2026, 11:28:46 PM
2027-03-19
$165.00
5/20/2026, 11:28:46 PM
Selected expiration: 2026-05-22 at max pain $187.50.
PM pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
125
0
11747500
11747500
130
0
10702500
10702500
135
0
9659000
9659000
140
0
8617500
8617500
145
0
7586000
7586000
150
1000
6562500
6563500
155
43000
5552500
5595500
157.5
67250
5057250
5124500
160
92750
4565250
4658000
162.5
123250
4080000
4203250
165
153750
3599500
3753250
167.5
196750
3143000
3339750
170
240000
2691000
2931000
172.5
309500
2255250
2564750
175
380250
1824750
2205000
177.5
501250
1396250
1897500
180
635250
1114750
1750000
182.5
797500
843000
1640500
185
964750
578250
1543000
187.5
1176250
347250
1523500
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.