S&T Bancorp, Inc. (STBA) Max Pain Analysis
Max pain is the strike price where aggregate option buyer payout is minimized at expiration. It represents the price at which option writers retain the most premium.
S&T Bancorp, Inc. (STBA) operates in the Financial Services sector, specifically the Banks - Regional industry, with a market capitalization near $1.57B, listed on NASDAQ, employing roughly 1,206 people, carrying a beta of 0.85 to the broader market. S&T Bancorp, Inc. Led by Christopher J. McComish, public since 1992-04-21.
Snapshot as of May 15, 2026.
- Spot Price
- $43.44
- Max Pain Strike
- $45.00
- Total OI
- 29
As of May 15, 2026, S&T Bancorp, Inc. (STBA) max pain sits at $45.00, which is above the current spot price of $43.44 (3.6% away). Spot sits 3.6% above max pain - close enough that a routine end-of-cycle gamma roll could pull price toward the level, but far enough that catalyst-driven flow would dominate. STBA sits in the lower-price band (spot $43.44), where $0.50-$2.50 strike spacing makes pin-to-strike effects easy to spot but per-contract dollar gamma is smaller. Total open interest across the listed chain is comparatively thin (29 contracts), so single-strike pinning is less reliable than it is for high-OI names. STBA is currently in positive dealer gamma ($2.6K), the regime that mechanically reinforces pinning by inducing dealers to buy weakness and sell strength near heavy-OI strikes. Max pain identifies the strike at which the aggregate dollar value of all outstanding options contracts would expire with the least total intrinsic value, a gravitational reference rather than a price target.
STBA Strategy Implications at the Current Max Pain Level
With spot 3.6% from the $45.00 max-pain level and S&T Bancorp, Inc. in a positive-gamma regime, where dealer hedging mechanically pulls spot toward heavy-OI strikes, strategy selection turns on cycle position and dealer positioning. Iron condors and credit spreads centered near the max-pain strike capture the typical end-of-cycle convergence when the regime supports pinning; ratio backspreads or directional debit structures fit names where catalyst flow is likely to overwhelm the hedging-driven pull. The gamma-exposure page shows the per-strike dealer book that determines whether hedging will reinforce or fight the pin.
Learn how max pain is reported and how to read the data →
Frequently asked STBA max pain analysis questions
- What is the current STBA max pain strike?
- As of May 15, 2026, S&T Bancorp, Inc. (STBA) max pain sits at $45.00, which is 3.6% above the current spot price of $43.44. Max pain identifies the strike at which aggregate option-buyer payouts at expiration are minimized; it is a gravitational reference, not a price target. A 3.6% gap is close enough that a routine end-of-cycle gamma roll could pull spot toward the level, but far enough that catalyst-driven flow typically dominates.
- Does STBA pin to its max pain strike at expiration?
- STBA is currently in positive dealer gamma, the regime that mechanically reinforces pinning. Dealers hedging long-gamma books buy weakness and sell strength near high-OI strikes, which pulls spot toward those levels into expiration. Total open interest across STBA (29 contracts) is one input to how plausible a clean pin is - heavier total OI concentrated at fewer strikes raises the probability; thin OI spread across many strikes lowers it. Pinning is strongest in heavily-traded names with large open-interest concentrations at high-OI strikes during the final week of an OPEX cycle. Whether STBA actually pins on a given expiration depends on the OI distribution, the dealer-gamma sign, and the absence of catalyst-driven moves that overwhelm hedging-driven flow.
- How is STBA max pain calculated?
- Max pain is computed by summing the dollar value of all in-the-money options at each candidate settlement strike across listed expirations, then selecting the strike that minimizes total intrinsic-value payout to option buyers. The calculation uses the full open-interest distribution and weighs both calls and puts. STBA put/call OI ratio is 0.04 - call-heavy, which biases the max-pain calculation toward strikes above current spot when the call OI concentrates there.