This page reflects APA 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 — APA
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $35.50 (6.87 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$35.50
Nearest expiry
Expected Move
±$1.39
±3.3%
Days to Expiry
3
Calendar days
Total Call OI
13,658
Nearest expiry
Total Put OI
5,527
Nearest expiry
P/C OI Ratio
0.40
Put-heavy
Spot Price
$42.37
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
2026-08-07
$35.00
8/7/2026, 11:04:13 PM
2026-08-14
$35.50
8/14/2026, 11:02:16 PM
2026-08-21NextUpdated
$35.50
8/18/2026, 11:04:35 PM
2026-08-28
$38.00
8/18/2026, 11:04:35 PM
2026-09-04
$37.00
8/18/2026, 11:04:35 PM
2026-09-11
$38.00
8/18/2026, 11:04:35 PM
2026-09-18
$35.00
8/18/2026, 11:04:35 PM
2026-09-25
$40.00
8/18/2026, 11:04:35 PM
2026-10-16
$35.00
8/18/2026, 11:04:35 PM
2026-12-18
$35.00
8/18/2026, 11:04:35 PM
2027-01-15
$20.00
8/18/2026, 11:04:35 PM
2027-03-19
$35.00
8/18/2026, 11:04:35 PM
Selected expiration: 2026-08-21 at max pain $35.50.
APA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
17.5
0
9308150
9308150
20
0
7926650
7926650
22.5
0
6545400
6545400
25
0
5165400
5165400
27.5
0
3793400
3793400
28
0
3550600
3550600
29
0
3065500
3065500
29.5
0
2824200
2824200
30
450
2583150
2583600
30.5
6200
2354700
2360900
31
12150
2127300
2139450
31.5
18100
1900150
1918250
32
24050
1677900
1701950
32.5
30000
1468100
1498100
33
51350
1282250
1333600
33.5
74050
1109950
1184000
34
96900
940900
1037800
34.5
126700
777000
903700
35
156800
634700
791500
35.5
263250
519000
782250
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.