Western Alliance BancorporationClose $77.03EOD only
Max Pain
$75.00
Next expiry Jun 18, 2026
Expected Move
±$6.60
8.6% from close
Price Gap
-2.03
Distance to max pain
IV Rank
0
Low premium
P/C OI
0.80
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: May 20, 2026 close
End-of-day snapshot
This page reflects WAL 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 — WAL
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $75.00 (2.03 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$75.00
Nearest expiry
Expected Move
±$6.60
±8.6%
Days to Expiry
29
Calendar days
Total Call OI
2,158
Nearest expiry
Total Put OI
4,505
Nearest expiry
P/C OI Ratio
2.09
Put-heavy
Spot Price
$77.03
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
$70.00
4/17/2026, 11:30:43 PM
2026-05-15
$75.00
5/15/2026, 11:46:51 PM
2026-06-18NextUpdated
$75.00
5/20/2026, 11:38:31 PM
2026-07-17
$80.00
5/20/2026, 11:38:31 PM
2026-09-18
$75.00
5/20/2026, 11:38:31 PM
2026-11-20
$65.00
5/20/2026, 11:38:31 PM
2026-12-18
$90.00
5/20/2026, 11:38:31 PM
2027-01-15
$70.00
5/20/2026, 11:38:31 PM
Selected expiration: 2026-06-18 at max pain $75.00.
WAL pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
37.5
0
12508250
12508250
40
0
11382250
11382250
42.5
0
10269750
10269750
45
0
9159750
9159750
47.5
0
8052750
8052750
50
0
6945750
6945750
55
2500
4736250
4738750
60
5000
2567750
2572750
62.5
7250
1947250
1954500
65
9500
1369250
1378750
67.5
25000
1030250
1055250
70
75250
711500
786750
72.5
144000
432500
576500
75
222500
191500
414000
77.5
336250
104500
440750
80
494250
47750
542000
82.5
714000
23000
737000
85
956000
3500
959500
87.5
1240500
2750
1243250
90
1561500
2000
1563500
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.