This page reflects TVTX 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 — TVTX
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $42.50 (0.99 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$42.50
Nearest expiry
Expected Move
±$4.95
±11.4%
Days to Expiry
29
Calendar days
Total Call OI
3,687
Nearest expiry
Total Put OI
3,562
Nearest expiry
P/C OI Ratio
0.97
Put-heavy
Spot Price
$43.49
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
$30.00
4/17/2026, 11:29:55 PM
2026-05-15
$37.50
5/15/2026, 11:42:53 PM
2026-06-18NextUpdated
$42.50
5/20/2026, 11:39:24 PM
2026-08-21
$40.00
5/20/2026, 11:39:24 PM
2026-09-18
$25.00
5/20/2026, 11:39:24 PM
2026-12-18
$22.50
5/20/2026, 11:39:24 PM
2027-01-15
$30.00
5/20/2026, 11:39:24 PM
Selected expiration: 2026-06-18 at max pain $42.50.
TVTX pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
7983750
7983750
17.5
1250
7095000
7096250
20
2500
6218000
6220500
22.5
43000
5426250
5469250
25
195000
4665000
4860000
27.5
388000
3919750
4307750
30
591000
3198000
3789000
32.5
822750
2483500
3306250
35
1061250
1795000
2856250
37.5
1331500
1122250
2453750
40
1607250
489000
2096250
42.5
1929500
60500
1990000
45
2318250
250
2318500
47.5
3027500
0
3027500
50
3797250
0
3797250
52.5
4682750
0
4682750
55
5568750
0
5568750
60
7409250
0
7409250
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.