This page reflects ALT 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 — ALT
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $3.00 (0.03 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$3.00
Nearest expiry
Expected Move
±$0.12
±4.2%
Days to Expiry
3
Calendar days
Total Call OI
18,834
Nearest expiry
Total Put OI
2,177
Nearest expiry
P/C OI Ratio
0.12
Put-heavy
Spot Price
$2.97
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
$0.50
8/7/2026, 11:03:06 PM
2026-08-14
$2.00
8/14/2026, 11:02:21 PM
2026-08-21NextUpdated
$3.00
8/18/2026, 11:02:27 PM
2026-08-28
$3.00
8/18/2026, 11:02:27 PM
2026-09-04
$1.00
8/18/2026, 11:02:27 PM
2026-09-11
$1.00
8/18/2026, 11:02:27 PM
2026-09-18
$3.00
8/18/2026, 11:02:27 PM
2026-09-25
$3.00
8/18/2026, 11:02:27 PM
2026-12-18
$3.00
8/18/2026, 11:02:27 PM
2027-01-15
$2.00
8/18/2026, 11:02:27 PM
2027-03-19
$0.50
8/18/2026, 11:02:27 PM
Selected expiration: 2026-08-21 at max pain $3.00.
ALT pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
514350
514350
1
24300
405650
429950
1.5
60050
298900
358950
2
99650
192600
292250
2.5
139800
86350
226150
3
202350
7200
209550
3.5
420850
1250
422100
4
1316150
500
1316650
4.5
2261300
300
2261600
5
3213450
150
3213600
5.5
4180250
50
4180300
6
5147350
0
5147350
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.