This page reflects ADTN options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 19, 2026 close
Max Pain — ADTN
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $11.00 (2.99 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$11.00
Nearest expiry
Expected Move
±$0.35
±4.4%
Days to Expiry
2
Calendar days
Total Call OI
14,748
Nearest expiry
Total Put OI
13,963
Nearest expiry
P/C OI Ratio
0.95
Put-heavy
Spot Price
$8.01
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
2026-06-18
$15.00
6/18/2026, 11:01:29 PM
2026-07-17
$14.00
7/17/2026, 11:02:15 PM
2026-08-21NextUpdated
$11.00
8/19/2026, 11:02:08 PM
2026-09-18
$7.00
8/19/2026, 11:02:08 PM
2026-11-20
$9.00
8/19/2026, 11:02:08 PM
2027-01-15
$12.00
8/19/2026, 11:02:08 PM
2027-02-19
$8.00
8/19/2026, 11:02:08 PM
Selected expiration: 2026-08-21 at max pain $11.00.
ADTN pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
11707000
11707000
2
700
10310700
10311400
3
2000
8914400
8916400
4
3500
7518200
7521700
5
5200
6122000
6127200
6
7300
4736300
4743600
7
12100
3350900
3363000
8
20300
1983500
2003800
9
79700
660100
739800
10
162000
345700
507700
11
294200
35400
329600
12
946000
30000
976000
13
1608300
24600
1632900
14
2280300
19400
2299700
15
3037100
14500
3051600
16
4094900
9700
4104600
17
5165000
5100
5170100
18
6249800
600
6250400
19
7371900
0
7371900
20
8574100
0
8574100
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.