This page reflects AON 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 — AON
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $350.00 (6.80 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
±$7.27
±2.1%
Days to Expiry
3
Calendar days
Total Call OI
1,507
Nearest expiry
Total Put OI
876
Nearest expiry
P/C OI Ratio
0.58
Put-heavy
Spot Price
$343.20
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
8/18/2026, 11:04:55 PM
2026-09-18
$360.00
8/18/2026, 11:04:55 PM
2026-10-16
$330.00
8/18/2026, 11:04:55 PM
2027-01-15
$350.00
8/18/2026, 11:04:55 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
11607000
11607000
190
0
11171500
11171500
195
0
10737000
10737000
210
0
9435000
9435000
230
0
7699000
7699000
240
0
6831000
6831000
250
0
5963000
5963000
260
0
5096000
5096000
270
0
4229000
4229000
280
0
3375000
3375000
290
0
2587000
2587000
300
0
1816000
1816000
310
0
1253000
1253000
320
0
756000
756000
330
5000
493000
498000
340
25000
260000
285000
350
108000
65000
173000
360
248000
29000
277000
370
543000
0
543000
380
1145000
0
1145000
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.