This page reflects AES 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 — AES
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $15.00 (0.26 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$15.00
Nearest expiry
Expected Move
±$0.27
±1.8%
Days to Expiry
3
Calendar days
Total Call OI
20,620
Nearest expiry
Total Put OI
21,002
Nearest expiry
P/C OI Ratio
1.02
Put-heavy
Spot Price
$14.74
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
$15.00
8/7/2026, 11:01:37 PM
2026-08-14
$15.00
8/14/2026, 11:02:01 PM
2026-08-21NextUpdated
$15.00
8/18/2026, 11:02:00 PM
2026-09-18
$15.00
8/18/2026, 11:02:00 PM
2026-11-20
$15.00
8/18/2026, 11:02:00 PM
2027-01-15
$13.00
8/18/2026, 11:02:00 PM
2027-02-19
$15.00
8/18/2026, 11:02:00 PM
2027-06-17
$15.00
8/18/2026, 11:02:00 PM
Selected expiration: 2026-08-21 at max pain $15.00.
AES pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
6
0
17015400
17015400
8
0
12815000
12815000
9
0
10715800
10715800
10
0
8616800
8616800
11
0
6518300
6518300
12
1100
4422200
4423300
13
4400
2374400
2378800
14
9800
378200
388000
15
81800
77600
159400
16
1347900
400
1348300
17
2880600
200
2880800
18
4559600
0
4559600
19
6377900
0
6377900
20
8353300
0
8353300
22
12474900
0
12474900
30
28962100
0
28962100
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.