This page reflects AN 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 — AN
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $200.00 (3.10 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$200.00
Nearest expiry
Expected Move
±$6.05
±3.1%
Days to Expiry
3
Calendar days
Total Call OI
377
Nearest expiry
Total Put OI
895
Nearest expiry
P/C OI Ratio
2.37
Put-heavy
Spot Price
$196.90
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
$190.00
6/18/2026, 11:03:28 PM
2026-07-17
$200.00
7/17/2026, 11:03:36 PM
2026-08-21NextUpdated
$200.00
8/18/2026, 11:02:46 PM
2026-09-18
$210.00
8/18/2026, 11:02:46 PM
2026-10-16
$195.00
8/18/2026, 11:02:46 PM
2026-11-20
$210.00
8/18/2026, 11:02:46 PM
2027-01-15
$180.00
8/18/2026, 11:02:46 PM
Selected expiration: 2026-08-21 at max pain $200.00.
AN pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
105
0
3990000
3990000
110
0
3543500
3543500
115
0
3098000
3098000
120
0
2654000
2654000
125
0
2419000
2419000
130
0
2184000
2184000
135
0
1949000
1949000
140
0
1717500
1717500
145
0
1492500
1492500
150
500
1293500
1294000
155
1000
1149000
1150000
160
2500
1004500
1007000
165
4500
871000
875500
170
6500
738500
745000
175
10000
611000
621000
180
20500
486000
506500
185
79500
365500
445000
190
140500
251500
392000
195
206500
167000
373500
200
273500
94000
367500
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.