Papa John's International, Inc.Close $23.35EOD only
Max Pain
$27.50
Next expiry Aug 21, 2026
Expected Move
±$1.07
4.6% from close
Price Gap
+4.15
Distance to max pain
IV Rank
67
High premium
P/C OI
0.53
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Aug 18, 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
Aug 18, 2026 close
Max Pain — PZZA
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $27.50 (4.15 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$27.50
Nearest expiry
Expected Move
±$1.07
±4.6%
Days to Expiry
3
Calendar days
Total Call OI
25,129
Nearest expiry
Total Put OI
13,796
Nearest expiry
P/C OI Ratio
0.55
Put-heavy
Spot Price
$23.35
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-08-21
Expiration
Max Pain Strike
Last Updated
2026-06-18
$32.50
6/18/2026, 11:29:08 PM
2026-07-17
$35.00
7/17/2026, 11:34:33 PM
2026-08-21NextUpdated
$27.50
8/18/2026, 11:31:14 PM
2026-09-18
$27.50
8/18/2026, 11:31:14 PM
2026-10-16
$25.00
8/18/2026, 11:31:14 PM
2026-12-18
$30.00
8/18/2026, 11:31:14 PM
2027-01-15
$27.50
8/18/2026, 11:31:14 PM
2027-03-19
$32.50
8/18/2026, 11:31:14 PM
2027-06-17
$25.00
8/18/2026, 11:31:14 PM
Selected expiration: 2026-08-21 at max pain $27.50.
PZZA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
17.5
0
10980500
10980500
20
0
7533750
7533750
22.5
41000
4110500
4151500
25
209000
1159000
1368000
27.5
509000
386500
895500
30
1213500
64500
1278000
32.5
2501000
31250
2532250
35
3937250
2750
3940000
37.5
6032750
0
6032750
40
9055250
0
9055250
42.5
13494750
0
13494750
45
18994500
0
18994500
47.5
25182500
0
25182500
50
31382000
0
31382000
55
43846500
0
43846500
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.