NVAX max pain

From the closing options book · October 20, 2026 · updated after every close

NVAX's max pain for the October 23, 2026 expiration was 11 at the October 20, 2026 close, −3.8% from NVAX's 11.43 close. Max pain is the price at which option holders' total intrinsic value at expiry would be smallest.

Max pain

Oct 23 expiry

11.43

−3.8% to max pain

0.59

Put/call OI

0.07

Put/call volume

NVAX close vs max pain, last 20 sessions

Session	Close	Max pain	Gap
Oct 20	11.43	11	−3.8%
Oct 19	10.82	11	+1.7%
Oct 16	11.26	11.5	+2.1%
Oct 15	12.82	13	+1.4%
Oct 14	12.64	13	+2.8%
Oct 13	12.82	13	+1.4%
Oct 12	12.66	12.5	−1.3%
Oct 9	12.75	11.5	−9.8%
Oct 8	11.01	11.5	+4.5%
Oct 7	11.22	11.5	+2.5%
Oct 6	11.32	11	−2.8%
Oct 5	12.56	11	−12.4%
Oct 2	10.46	10	−4.4%
Oct 1	10.60	10	−5.7%
Sep 30	10.81	10	−7.5%
Sep 29	10.82	10	−7.6%
Sep 28	10.80	10	−7.4%
Sep 25	10.63	10	−5.9%
Sep 24	10.60	10	−5.7%
Sep 23	10.55	10	−5.2%

The session before, max pain sat at 11.

Open interest within 45 days stood at 23,294 calls and 13,802 puts, a put/call ratio of 0.59. On the day, 10,288 calls and 712 puts traded.

Max pain is a property of the open-interest book, not a forecast: price has no obligation to finish there, and on most days it does not. It is most useful as a reference for where the expiring book is balanced.

These are the October 20, 2026 closing numbers. Members see NVAX's map move live all session.

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Common questions

What is NVAX's max pain?

11 for the October 23, 2026 expiration, from open interest at the October 20, 2026 close.

What is NVAX's put/call ratio?

By open interest 0.59; by volume 0.07 on October 20, 2026.

Does NVAX close at max pain?

Not reliably. Max pain describes where the expiring options book is balanced; it is a reference level, not a prediction.

Compare: max pain on other tickers

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Measured from the closing options book and rebuilt after every close. Nothing on this page is live. Levels are where dealer hedging is concentrated, not targets or forecasts. Not investment advice.