Tonix Pharmaceuticals Holding CClose $14.50EOD only
Max Pain
$12.50
Next expiry Jun 18, 2026
Expected Move
±$3.70
25.5% from close
Price Gap
-2.00
Distance to max pain
IV Rank
0
Low premium
P/C OI
0.39
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: May 20, 2026 close
End-of-day snapshot
This page reflects TNXP 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 — TNXP
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $12.50 (2.00 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$12.50
Nearest expiry
Expected Move
±$3.70
±25.5%
Days to Expiry
29
Calendar days
Total Call OI
1,189
Nearest expiry
Total Put OI
620
Nearest expiry
P/C OI Ratio
0.52
Put-heavy
Spot Price
$14.50
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
$12.50
4/17/2026, 11:32:53 PM
2026-05-15
$15.00
5/15/2026, 11:42:12 PM
2026-06-18NextUpdated
$12.50
5/20/2026, 11:35:23 PM
2026-09-18
$12.50
5/20/2026, 11:35:23 PM
2026-12-18
$15.00
5/20/2026, 11:35:23 PM
Selected expiration: 2026-06-18 at max pain $12.50.
TNXP pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
613000
613000
5
1750
458500
460250
7.5
4500
304000
308500
10
8500
149500
158000
12.5
47250
56500
103750
15
120500
19000
139500
17.5
214500
8000
222500
20
431000
3500
434500
22.5
692000
2000
694000
25
957000
500
957500
30
1493000
0
1493000
35
2084500
0
2084500
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.