Nearest listed expiration 2026-08-21 shows max pain at $527.50 (13.17 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$527.50
Nearest expiry
Expected Move
±$24.48
±4.8%
Days to Expiry
3
Calendar days
Total Call OI
47,297
Nearest expiry
Total Put OI
43,011
Nearest expiry
P/C OI Ratio
0.91
Put-heavy
Spot Price
$514.33
Published close
Consensus
6.5/10
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
$510.00
8/7/2026, 11:03:19 PM
2026-08-14
$540.00
8/14/2026, 11:04:08 PM
2026-08-21NextUpdated
$527.50
8/18/2026, 11:03:14 PM
2026-08-28
$525.00
8/18/2026, 11:03:14 PM
2026-09-04
$530.00
8/18/2026, 11:03:14 PM
2026-09-11
$540.00
8/18/2026, 11:03:14 PM
2026-09-18
$470.00
8/18/2026, 11:03:14 PM
2026-09-25
$525.00
8/18/2026, 11:03:14 PM
2026-10-02
$515.00
8/18/2026, 11:03:14 PM
2026-10-16
$500.00
8/18/2026, 11:03:14 PM
2026-11-20
$490.00
8/18/2026, 11:03:14 PM
2026-12-18
$370.00
8/18/2026, 11:03:14 PM
2027-01-15
$320.00
8/18/2026, 11:03:14 PM
2027-02-19
$520.00
8/18/2026, 11:03:14 PM
2027-03-19
$520.00
8/18/2026, 11:03:14 PM
2027-06-17
$420.00
8/18/2026, 11:03:14 PM
Selected expiration: 2026-08-21 at max pain $527.50.
AMAT pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
165
0
1125557500
1125557500
170
1000
1104556000
1104557000
175
3000
1083691000
1083694000
180
6000
1062968000
1062974000
185
11500
1042378500
1042390000
190
18000
1021833000
1021851000
195
25500
1001487000
1001512500
200
52500
981145000
981197500
210
183500
941593000
941776500
220
315500
902107000
902422500
230
456500
862682000
863138500
235
532500
843008500
843541000
240
608500
823347500
823956000
245
697000
803739000
804436000
250
785500
784157000
784942500
255
883000
764717500
765600500
260
980500
745287500
746268000
265
1081500
725946500
727028000
270
1182500
706630000
707812500
275
1300500
687384000
688684500
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.