This page reflects AME 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 — AME
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $230.00 (19.99 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$230.00
Nearest expiry
Expected Move
±$4.10
±1.6%
Days to Expiry
3
Calendar days
Total Call OI
9,887
Nearest expiry
Total Put OI
4,938
Nearest expiry
P/C OI Ratio
0.50
Put-heavy
Spot Price
$249.99
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, 11:02:56 PM
2026-07-17
$230.00
7/17/2026, 11:02:59 PM
2026-08-21NextUpdated
$230.00
8/18/2026, 11:02:39 PM
2026-09-18
$240.00
8/18/2026, 11:02:39 PM
2026-11-20
$220.00
8/18/2026, 11:02:39 PM
2026-12-18
$220.00
8/18/2026, 11:02:39 PM
2027-03-19
$220.00
8/18/2026, 11:02:39 PM
Selected expiration: 2026-08-21 at max pain $230.00.
AME pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
100
0
61996000
61996000
105
0
59533000
59533000
115
0
54608000
54608000
120
0
52146500
52146500
130
1000
47223500
47224500
140
2000
42300500
42302500
145
2500
39839000
39841500
150
3000
37378500
37381500
155
3500
34920000
34923500
165
4500
30013000
30017500
170
5000
27560500
27565500
175
5500
25109000
25114500
180
6000
22659500
22665500
185
10000
20218000
20228000
190
14000
17781500
17795500
195
18500
15359500
15378000
200
30000
12951000
12981000
210
61000
8153000
8214000
220
139000
3409000
3548000
230
727000
869000
1596000
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.