Free ADI Max Pain - Analog Devices Max Pain
Use free ADI Max Pain to find the candidate strike with the lowest combined call and put intrinsic value for Analog Devices at one selected expiration. Compare the full pain curve alongside business context that includes chip demand, product cycles, manufacturing capacity, and customer spending.
How to use the ADI Max Pain tool
Confirm ADI
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Choose an expiration
Select the expiration you want the calculation to use.
Calculate Max Pain
Generate the result, then compare Max Pain with price and the full pain chart.
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What is Max Pain?
Max Pain is the strike price at which option sellers (market makers) would lose the least amount of money if the stock expired at that price. The theory suggests stocks tend to gravitate toward this price near expiration.
Chart Legend:
- Green bars: Call option pain per strike
- Red bars: Put option pain per strike
- Blue line: Max Pain strike
- Red line: Current underlying price
Key levels
ADI max pain in detail
Computed
Spot
$383.56
Max pain strike
$397.50
3.6% above spot
Expiration
2026-10-23
Lowest total pain by strike
| Strike | Call pain | Put pain | Total |
|---|---|---|---|
| $397.50 | $2.9M | $662K | $3.5M |
| $400 | $3.0M | $530K | $3.6M |
| $395 | $2.7M | $852K | $3.6M |
| $402.50 | $3.2M | $414K | $3.6M |
| $392.50 | $2.6M | $1.1M | $3.7M |
Reviewed by the QuantWheel research team. Computed from listed ADI open interest for the expiration shown; a reference level, not a forecast. Read how we compute ADI max pain.
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Understanding ADI Max Pain
The ADI options chain represents Analog Devices. Evaluate its open-interest distribution alongside business context that includes chip demand, product cycles, manufacturing capacity, and customer spending. Compare Max Pain across available expirations because the distribution can differ from one expiration to another.
For ADI, the calculator tests each candidate strike against call and put open interest for the selected expiration. Review the full curve with the result. The calculation describes the selected chain and does not predict where Analog Devices will trade.
How the ADI Max Pain calculation works
QuantWheel tests each strike as a possible expiration price. It adds the intrinsic value of open calls and puts at that price, weighted by open interest and the contract multiplier. The strike with the lowest combined value is displayed as ADI Max Pain.
This calculation uses the selected options chain. It does not measure dealer inventory, intent, future order flow or the probability that ADI will finish at the calculated strike.
Related ADI options tools
Compare expiration pain with the ADI GEX chart or review ADI gamma by strike and expiration.
ADI Max Pain FAQ
What is ADI Max Pain?
ADI Max Pain is the candidate expiration price where the combined intrinsic value of outstanding ADI calls and puts is lowest for the selected expiration. It is a calculation based on open interest, not a prediction of where ADI will trade.
How is ADI Max Pain calculated?
For each candidate price, QuantWheel calculates call and put intrinsic value across the selected ADI options chain, multiplies each value by open interest and the 100-share contract multiplier, then adds the totals. The candidate price with the lowest combined total is the Max Pain strike.
Which ADI expiration should I select?
Select the exact ADI expiration you want to examine. Weekly and monthly expirations can have different open-interest distributions, so compare them separately instead of applying one result to every date.
How should I use ADI Max Pain?
Compare the calculated strike with ADI price and the full call and put pain chart for the same expiration. Use it as expiration context alongside liquidity, gamma exposure and your own risk plan rather than as a standalone trading signal.
Is ADI Max Pain a price target?
No. ADI Max Pain does not forecast price and does not prove that traders or market makers will move ADI toward a particular strike. News, volatility, liquidity and positioning can outweigh any expiration-related pinning effect.
Is the ADI Max Pain calculator free?
Yes. QuantWheel provides a limited number of free ADI Max Pain calculations. The calculator shows how many free calculations remain before you run another expiration.