This page reflects AJG 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 — AJG
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $240.00 (8.36 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$240.00
Nearest expiry
Expected Move
±$6.38
±2.6%
Days to Expiry
3
Calendar days
Total Call OI
2,353
Nearest expiry
Total Put OI
1,688
Nearest expiry
P/C OI Ratio
0.72
Put-heavy
Spot Price
$248.36
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
$210.00
6/18/2026, 11:02:29 PM
2026-07-17
$230.00
7/17/2026, 11:02:01 PM
2026-08-21NextUpdated
$240.00
8/18/2026, 11:01:59 PM
2026-09-18
$250.00
8/18/2026, 11:01:59 PM
2026-10-16
$240.00
8/18/2026, 11:01:59 PM
2026-12-18
$210.00
8/18/2026, 11:01:59 PM
2027-01-15
$230.00
8/18/2026, 11:01:59 PM
Selected expiration: 2026-08-21 at max pain $240.00.
AJG pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
130
0
15916500
15916500
140
0
14228500
14228500
150
0
12541500
12541500
155
1000
11701000
11702000
160
2000
10910500
10912500
165
3000
10120500
10123500
170
4000
9332500
9336500
175
5000
8545000
8550000
180
6000
7762500
7768500
185
7000
6983500
6990500
190
8000
6287000
6295000
195
9000
5594500
5603500
200
10500
4920000
4930500
210
18500
3625000
3643500
220
30500
2482000
2512500
230
80500
1517000
1597500
240
271500
896000
1167500
250
935500
407000
1342500
260
1794500
160000
1954500
270
2914500
0
2914500
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.