This page reflects AA options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 18, 2026 close
Max Pain — AA
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $49.00 (1.02 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$49.00
Nearest expiry
Expected Move
±$1.99
±4.0%
Days to Expiry
3
Calendar days
Total Call OI
34,550
Nearest expiry
Total Put OI
13,530
Nearest expiry
P/C OI Ratio
0.39
Put-heavy
Spot Price
$50.02
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-08-21
Expiration
Max Pain Strike
Last Updated
2026-08-07
$46.00
8/7/2026, 11:01:01 PM
2026-08-14
$49.00
8/14/2026, 11:01:00 PM
2026-08-21NextUpdated
$49.00
8/18/2026, 11:01:01 PM
2026-08-28
$50.00
8/18/2026, 11:01:01 PM
2026-09-04
$55.00
8/18/2026, 11:01:01 PM
2026-09-11
$50.00
8/18/2026, 11:01:01 PM
2026-09-18
$50.00
8/18/2026, 11:01:01 PM
2026-09-25
$49.00
8/18/2026, 11:01:01 PM
2026-10-02
$50.00
8/18/2026, 11:01:01 PM
2026-10-16
$50.00
8/18/2026, 11:01:01 PM
2026-12-18
$50.00
8/18/2026, 11:01:01 PM
2027-01-15
$45.00
8/18/2026, 11:01:01 PM
2027-03-19
$60.00
8/18/2026, 11:01:01 PM
2027-06-17
$45.00
8/18/2026, 11:01:01 PM
Selected expiration: 2026-08-21 at max pain $49.00.
AA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
33
0
16454350
16454350
34
500
15114650
15115150
35
1700
13775950
13777650
36
4100
12470350
12474450
37
6500
11166550
11173050
38
9900
9890950
9900850
39
13600
8618750
8632350
39.5
15450
8027950
8043400
40
17950
7445600
7463550
40.5
21150
6908100
6929250
41
24350
6377250
6401600
41.5
27600
5890350
5917950
42
31200
5419000
5450200
42.5
35350
4955450
4990800
43
44300
4501750
4546050
43.5
78900
4059250
4138150
44
117150
3637800
3754950
44.5
166550
3222350
3388900
45
238850
2817800
3056650
45.5
358400
2506150
2864550
How to Read Max Pain
Compare pin-risk and strike-pressure across expirations from the latest published close.
What max pain measures
Max pain is the strike where option holders would collectively lose the most at expiration, based on open interest across the listed chain.
How traders use it
It is most useful as a possible pinning zone, especially when spot is already trading near a crowded strike into expiration.
What can break it
Strong directional flows, news, or fast spot moves can overwhelm any pinning tendency, so max pain should support a thesis rather than drive it alone.
The closer you are to expiration, the more useful this becomes as context and the less useful it is as a standalone prediction.