This page reflects ALV 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 — ALV
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $120.00 (0.28 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$120.00
Nearest expiry
Expected Move
±$2.30
±1.9%
Days to Expiry
3
Calendar days
Total Call OI
240
Nearest expiry
Total Put OI
176
Nearest expiry
P/C OI Ratio
0.73
Put-heavy
Spot Price
$120.28
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
$110.00
6/18/2026, 11:02:35 PM
2026-07-17
$120.00
7/17/2026, 11:03:24 PM
2026-08-21NextUpdated
$120.00
8/18/2026, 11:02:18 PM
2026-09-18
$115.00
8/18/2026, 11:02:18 PM
2026-11-20
$120.00
8/18/2026, 11:02:18 PM
2026-12-18
$125.00
8/18/2026, 11:02:18 PM
2027-03-19
$110.00
8/18/2026, 11:02:18 PM
Selected expiration: 2026-08-21 at max pain $120.00.
ALV pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
80
0
603000
603000
95
1500
339000
340500
100
2000
252000
254000
105
2500
171000
173500
110
3000
95500
98500
115
3500
28000
31500
120
4500
10000
14500
125
57000
1000
58000
130
121500
0
121500
135
214000
0
214000
140
313500
0
313500
145
426000
0
426000
155
652000
0
652000
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.