This page reflects APG 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 — APG
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $40.00 (2.78 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$0.97
±2.3%
Days to Expiry
3
Calendar days
Total Call OI
557
Nearest expiry
Total Put OI
11,136
Nearest expiry
P/C OI Ratio
19.99
Put-heavy
Spot Price
$42.78
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
$41.00
6/18/2026, 11:02:43 PM
2026-07-17
$40.00
7/17/2026, 11:03:21 PM
2026-08-21NextUpdated
$40.00
8/18/2026, 11:03:27 PM
2026-09-18
$42.00
8/18/2026, 11:03:27 PM
2026-10-16
$41.00
8/18/2026, 11:03:27 PM
2027-01-15
$40.00
8/18/2026, 11:03:27 PM
Selected expiration: 2026-08-21 at max pain $40.00.
APG pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
33
0
5294200
5294200
35
0
3067600
3067600
37
1600
1843600
1845200
38
3500
1231800
1235300
39
6400
620300
626700
40
15300
9000
24300
41
33600
600
34200
42
54700
0
54700
43
77300
0
77300
44
100400
0
100400
45
124300
0
124300
46
162800
0
162800
48
257000
0
257000
49
304300
0
304300
50
351600
0
351600
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.