# IONL Max Pain (Strike Pegger)

> IONL max pain chart: the strike where option writers' aggregate liability is minimized, daily and by expiration.

Data as of Nov 13, 2026 (end of day).

Max Pain© analysis: the peg is the strike where call and put writers' aggregate liability is minimized; the target price (bias) is where call and put liability converge.

## IONL quote

| Field | Value |
|---|---|
| Last | 5.61 |
| Change | -0.82 |
| Open | 6.13 |
| Previous | 6.43 |
| High | 6.19 |
| Low | 5.36 |
| Bid | - |
| Ask | - |
| Volume | 2,146,578 |
| Trades | - |
| Dividend | - |
| Yield | - |
| Ex-Div | - |
| Split Date | - |
| Impl Vol | 156.8% |
| Hist Vol | 180.2% |
| Opt Volume | 159 |
| Open Int | 3,531 |

Expiration: Nov 20, 2026.

All expirations: 2026-11-20, 2026-12-18, 2027-03-19, 2027-06-17.

Change the view with query parameters: `expiration` (YYYY-MM-DD, the daily history and the by-strike profile), `date` (an earlier session). Example: `/quotes/strike-pegger/IONL.md?expiration=2026-11-20`.

## Daily History — expiration Nov 20, 2026

| Date | Strike Peg | Stock Price | Target Price (bias) | Call OI | Put OI |
|---|---:|---:|---:|---:|---:|
| Nov 13, 2026 | 7.00 | 5.61 | 8.38 | 1,107 | 710 |
| Nov 12, 2026 | 7.00 | 6.43 | 8.39 | 1,108 | 711 |
| Nov 11, 2026 | 7.00 | 7.93 | 8.55 | 1,101 | 716 |
| Nov 10, 2026 | 7.00 | 8.38 | 8.49 | 1,101 | 712 |
| Nov 9, 2026 | 7.00 | 8.57 | 8.34 | 1,040 | 740 |
| Nov 6, 2026 | 7.00 | 7.32 | 8.34 | 997 | 746 |
| Nov 5, 2026 | 7.00 | 5.04 | 8.58 | 894 | 755 |
| Nov 4, 2026 | 7.00 | 6.34 | 8.59 | 888 | 647 |
| Nov 3, 2026 | 10.00 | 6.54 | 10.62 | 354 | 651 |
| Nov 2, 2026 | 10.00 | 5.81 | 10.72 | 348 | 654 |
| Oct 30, 2026 | 11.00 | 6.62 | 10.77 | 341 | 654 |

## Open Interest by Strike

**Strike Peg is 7.00, Bias: 8.38** (expiration Nov 20, 2026) — 24.8% above the last price of 5.61; open interest 1.11K calls / 710 puts (put/call 0.64).

Net Liability is the call plus put writers' liability if the stock settles at the strike; the peg is its minimum. Showing 24 of 31 strikes: those with open interest; the peg uses every strike.

| Strike | Call OI | Put OI | Net Liability |
|---:|---:|---:|---:|
| 3.00 | 2 | 1 | 4,041 |
| 4.00 | 3 | 1 | 3,334 |
| 5.00 | 7 | 10 | 2,631 |
| 6.00 | 36 | 230 | 1,945 |
| 7.00 | 546 | 57 | 1,525 |
| 8.00 | 33 | 23 | 1,708 |
| 9.00 | 205 | 134 | 1,947 |
| 10.00 | 93 | 91 | 2,525 |
| 11.00 | 19 | 76 | 3,287 |
| 12.00 | 50 | 31 | 4,144 |
| 13.00 | 4 | 17 | 5,082 |
| 14.00 | 30 | 4 | 6,041 |
| 15.00 | 9 | 10 | 7,034 |
| 16.00 | 3 | 25 | 8,046 |
| 18.00 | 7 | 0 | 10,126 |
| 19.00 | 2 | 0 | 11,173 |
| 20.00 | 33 | 0 | 12,222 |
| 21.00 | 4 | 0 | 13,304 |
| 22.00 | 2 | 0 | 14,390 |
| 23.00 | 4 | 0 | 15,478 |
| 24.00 | 5 | 0 | 16,570 |
| 25.00 | 7 | 0 | 17,667 |
| 26.00 | 2 | 0 | 18,771 |
| 35.00 | 1 | 0 | 28,725 |

## By Expiration

| Expiration | Strike Peg | Stock Price | Target Price (bias) | Call OI | Put OI |
|---|---:|---:|---:|---:|---:|
| Nov 20, 2026 | 7.00 | 5.61 | 8.38 | 1,107 | 710 |
| Nov 21, 2026 | 7.00 | 5.61 | 8.38 | 1,107 | 710 |
| Dec 19, 2026 | 13.00 | 5.61 | 16.93 | 515 | 361 |
| Mar 20, 2027 | 8.00 | 5.61 | 9.10 | 443 | 230 |
| Jun 19, 2027 | 10.00 | 5.61 | 10.40 | 127 | 38 |

Max Pain© is a registered trademark. The peg is computed from open interest in the day's option snapshot.

## More for IONL

- [Quote](https://www.optionistics.com/quotes/stock-quotes/IONL.md)
- [Option chain](https://www.optionistics.com/quotes/stock-option-chains/IONL.md)
- [Price history](https://www.optionistics.com/quotes/stock-prices/IONL.md)
- [10 day snapshot](https://www.optionistics.com/snapshot.md?symbol=IONL)
- [Strike Pegger (max pain)](https://www.optionistics.com/quotes/strike-pegger/IONL.md)
- [Volatility skew](https://www.optionistics.com/screener/volatility-skew/IONL.md)
- [Put/call ratio](https://www.optionistics.com/screener/put-call-ratio/IONL.md)
- [Trade finder](https://www.optionistics.com/screener/stock-trade-finder/IONL.md)

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