Papa John's International, Inc.Close $32.34EOD only
Max Pain
$32.50
Next expiry Jun 18, 2026
Expected Move
±$4.62
14.3% from close
Price Gap
+0.16
Distance to max pain
IV Rank
10
Low premium
P/C OI
0.44
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: May 20, 2026 close
End-of-day snapshot
This page reflects PZZA 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 — PZZA
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $32.50 (0.16 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$32.50
Nearest expiry
Expected Move
±$4.62
±14.3%
Days to Expiry
29
Calendar days
Total Call OI
18,144
Nearest expiry
Total Put OI
11,398
Nearest expiry
P/C OI Ratio
0.63
Put-heavy
Spot Price
$32.34
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
$35.00
4/17/2026, 11:24:00 PM
2026-05-15
$35.00
5/15/2026, 11:33:12 PM
2026-06-18NextUpdated
$32.50
5/20/2026, 11:28:02 PM
2026-07-17
$32.50
5/20/2026, 11:28:02 PM
2026-09-18
$25.00
5/20/2026, 11:28:02 PM
2026-10-16
$25.00
5/20/2026, 11:28:02 PM
2026-12-18
$40.00
5/20/2026, 11:28:02 PM
2027-01-15
$25.00
5/20/2026, 11:28:02 PM
2027-03-19
$27.50
5/20/2026, 11:28:02 PM
Selected expiration: 2026-06-18 at max pain $32.50.
PZZA pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
17.5
0
13956250
13956250
20
500
11107500
11108000
22.5
1750
8270250
8272000
25
3500
5458250
5461750
27.5
7750
2789750
2797500
30
12250
1419500
1431750
32.5
160750
649250
810000
35
489250
333500
822750
37.5
1356750
228250
1585000
40
3010750
156750
3167500
42.5
6231750
100000
6331750
45
10131250
72750
10204000
47.5
14463750
52750
14516500
50
18827750
38000
18865750
52.5
23258500
23750
23282250
55
27700000
12250
27712250
57.5
32155000
3250
32158250
60
36617750
500
36618250
62.5
41123000
250
41123250
65
45628250
0
45628250
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.