This page reflects SIGA options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 22, 2026 close
Max Pain — SIGA
Data as of market close May 22, 2026
Nearest listed expiration 2026-06-18 shows max pain at $4.40 (0.28 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$4.40
Nearest expiry
Expected Move
±$0.65
±13.9%
Days to Expiry
27
Calendar days
Total Call OI
695
Nearest expiry
Total Put OI
194
Nearest expiry
P/C OI Ratio
0.28
Put-heavy
Spot Price
$4.68
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
$1.40
4/17/2026, 11:28:34 PM
2026-05-15
$4.40
5/15/2026, 11:33:24 PM
2026-06-18NextUpdated
$4.40
5/22/2026, 11:35:07 PM
2026-07-17
$4.00
5/22/2026, 11:35:07 PM
2026-09-18
$4.40
5/22/2026, 11:35:07 PM
2026-12-18
$4.00
5/22/2026, 11:35:07 PM
2027-01-15
$3.80
5/22/2026, 11:35:07 PM
Selected expiration: 2026-06-18 at max pain $4.40.
SIGA pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
0.4
0
80600
80600
1
0
68960
68960
1.4
0
61200
61200
2
120
49560
49680
2.4
200
41800
42000
3.4
800
22400
23200
4.4
1400
3000
4400
5
4940
1920
6860
5.4
7300
1200
8500
6
31000
900
31900
6.4
46800
700
47500
7
79140
400
79540
7.4
100700
320
101020
8
140780
200
140980
8.4
167500
120
167620
9
208180
0
208180
9.4
235700
0
235700
10
276980
0
276980
11.4
374280
0
374280
12
415980
0
415980
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.