This page reflects VIAV 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 — VIAV
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $33.00 (15.10 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$33.00
Nearest expiry
Expected Move
±$9.55
±19.9%
Days to Expiry
29
Calendar days
Total Call OI
37,335
Nearest expiry
Total Put OI
13,853
Nearest expiry
P/C OI Ratio
0.37
Put-heavy
Spot Price
$48.10
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
$34.00
4/17/2026, 11:33:41 PM
2026-05-15
$45.00
5/15/2026, 11:43:35 PM
2026-06-18NextUpdated
$33.00
5/20/2026, 11:40:19 PM
2026-07-17
$50.00
5/20/2026, 11:40:19 PM
2026-09-18
$42.00
5/20/2026, 11:40:19 PM
2026-11-20
$30.00
5/20/2026, 11:40:19 PM
2026-12-18
$30.00
5/20/2026, 11:40:19 PM
2027-01-15
$30.00
5/20/2026, 11:40:19 PM
2027-02-19
$30.00
5/20/2026, 11:40:19 PM
2027-04-16
$40.00
5/20/2026, 11:40:19 PM
Selected expiration: 2026-06-18 at max pain $33.00.
VIAV pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
48980600
48980600
6
100
47595300
47595400
8
2300
44824700
44827000
9
3400
43439400
43442800
10
6600
42054200
42060800
12
13400
39286200
39299600
13
26000
37904300
37930300
14
39900
36527800
36567700
15
68900
35157100
35226000
16
113600
33840100
33953700
17
163200
32536600
32699800
18
231900
31234300
31466200
19
376700
30030300
30407000
20
569200
28828800
29398000
21
824500
27629200
28453700
22
1094600
26440100
27534700
23
1376500
25257500
26634000
24
1659000
24075900
25734900
25
1944600
22897700
24842300
26
2252400
21727300
23979700
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.