This page reflects AON options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 19, 2026 close
Max Pain — AON
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $350.00 (1.57 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$350.00
Nearest expiry
Expected Move
±$6.32
±1.8%
Days to Expiry
2
Calendar days
Total Call OI
1,503
Nearest expiry
Total Put OI
924
Nearest expiry
P/C OI Ratio
0.61
Put-heavy
Spot Price
$348.43
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
$330.00
6/18/2026, 11:03:16 PM
2026-07-17
$330.00
7/17/2026, 11:03:05 PM
2026-08-21NextUpdated
$350.00
8/19/2026, 11:03:06 PM
2026-09-18
$360.00
8/19/2026, 11:03:06 PM
2026-10-16
$330.00
8/19/2026, 11:03:06 PM
2027-01-15
$350.00
8/19/2026, 11:03:06 PM
Selected expiration: 2026-08-21 at max pain $350.00.
AON pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
185
0
12345000
12345000
190
0
11885500
11885500
195
0
11427000
11427000
210
0
10053000
10053000
230
0
8221000
8221000
240
0
7305000
7305000
250
0
6389000
6389000
260
0
5474000
5474000
270
0
4559000
4559000
280
0
3657000
3657000
290
0
2821000
2821000
300
0
2002000
2002000
310
0
1391000
1391000
320
0
846000
846000
330
5000
535000
540000
340
24000
254000
278000
350
105000
61000
166000
360
243000
27000
270000
370
536000
0
536000
380
1134000
0
1134000
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.