Eseandre Mordi
Options expiration weeks have a way of pulling stocks toward key strikes — and right now, all eyes are on $17 for HIMS. With the February 13 expiry just around the corner, Hims & Hers Health is sitting at $16.50, barely below the max pain level. The options structure is unusually clean: almost no call exposure below the pivot, then a sharp ramp above it. That kind of setup tends to make the $17 level magnetic heading into expiry.
HIMS Options Coiled Under $17 Max Pain as February 13 Expiry Approaches
With just days left before the February 13 expiration, Hims & Hers Health (HIMS) is trading around $16.50 — right below a key options pivot. Max pain is pinned at $17, and the positioning around that level tells an interesting story. The stock is "coiled" under max pain, meaning a clean reclaim of $17 could quickly shift the short-term dynamics for the trade.
The put side of the options chart shows heavy concentration at the lower strikes, thinning out through the low teens — suggesting most bearish exposure is sitting well below where the stock currently trades. The call side is a different picture entirely: barely any open interest below $17, then a steady staircase building all the way into the $40s once price clears the pivot.
Why $17 Is the Strike to Watch Into Expiry
That call ladder matters because of how dealer hedging works. As HIMS moves above $17, dealers who sold those calls may need to buy shares to stay hedged — which can amplify upside momentum. Any move would still need real follow-through, but the structure creates a setup where upside sensitivity increases quickly once the pivot flips.
The stock has already been through several technical inflection points recently — including HIMS testing $15.75 support after a multi-month decline and HIMS described as oversold with support at $15 and $13.60 — which helps frame how it has behaved around key levels as sentiment slowly shifts.
Heading into expiry, the $17 strike is the line in the sand. Hold above it, and HIMS enters a zone where the call profile steepens fast. Fail to reclaim it, and the stock stays rangebound below max pain as the window closes.
Eseandre Mordi
