This page reflects APH 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 — APH
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $145.00 (14.57 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$145.00
Nearest expiry
Expected Move
±$5.58
±3.5%
Days to Expiry
3
Calendar days
Total Call OI
30,682
Nearest expiry
Total Put OI
23,984
Nearest expiry
P/C OI Ratio
0.78
Put-heavy
Spot Price
$159.57
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
$135.00
6/18/2026, 11:03:03 PM
2026-07-17
$150.00
7/17/2026, 11:04:43 PM
2026-08-21NextUpdated
$145.00
8/18/2026, 11:03:07 PM
2026-09-18
$150.00
8/18/2026, 11:03:07 PM
2026-10-16
$165.00
8/18/2026, 11:03:07 PM
2026-11-20
$145.00
8/18/2026, 11:03:07 PM
2026-12-18
$140.00
8/18/2026, 11:03:07 PM
2027-01-15
$125.00
8/18/2026, 11:03:07 PM
2027-03-19
$135.00
8/18/2026, 11:03:07 PM
2027-06-17
$160.00
8/18/2026, 11:03:07 PM
Selected expiration: 2026-08-21 at max pain $145.00.
APH pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
65
0
159383000
159383000
70
5500
147391500
147397000
75
11500
135402000
135413500
80
32500
123417500
123450000
85
54000
111442500
111496500
90
75500
99467500
99543000
95
108000
87516000
87624000
100
140500
75599000
75739500
105
196000
64035000
64231000
110
255000
52757500
53012500
115
333000
41933500
42266500
120
442000
31239500
31681500
125
574500
25199500
25774000
130
843500
19628000
20471500
135
3070500
14867500
17938000
140
5572500
10869500
16442000
145
8253500
7727500
15981000
150
11060500
5213000
16273500
155
15136000
3442500
18578500
160
20001500
2128500
22130000
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.