This page reflects ALK 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 — ALK
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $45.00 (2.59 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$45.00
Nearest expiry
Expected Move
±$1.55
±3.6%
Days to Expiry
3
Calendar days
Total Call OI
7,813
Nearest expiry
Total Put OI
4,942
Nearest expiry
P/C OI Ratio
0.63
Put-heavy
Spot Price
$42.41
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
$40.00
6/18/2026, 11:02:30 PM
2026-07-17
$45.00
7/17/2026, 11:02:28 PM
2026-08-21NextUpdated
$45.00
8/18/2026, 11:02:17 PM
2026-09-18
$45.00
8/18/2026, 11:02:17 PM
2026-10-16
$45.00
8/18/2026, 11:02:17 PM
2026-12-18
$45.00
8/18/2026, 11:02:17 PM
2027-01-15
$45.00
8/18/2026, 11:02:17 PM
2027-02-19
$42.50
8/18/2026, 11:02:17 PM
2027-03-19
$47.50
8/18/2026, 11:02:17 PM
2027-05-21
$50.00
8/18/2026, 11:02:17 PM
Selected expiration: 2026-08-21 at max pain $45.00.
ALK pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
6113750
6113750
32.5
6000
4898000
4904000
35
13500
3710250
3723750
37.5
31000
2609000
2640000
40
66000
1601750
1667750
42.5
143250
718500
861750
45
261250
90000
351250
47.5
437250
16750
454000
50
816750
6750
823500
52.5
1369250
4500
1373750
55
2138500
2250
2140750
57.5
3253750
0
3253750
60
4453000
0
4453000
65
7648500
0
7648500
70
11493000
0
11493000
75
15360500
0
15360500
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.