This page reflects APPF 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 — APPF
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $165.00 (38.95 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$165.00
Nearest expiry
Expected Move
±$9.22
±4.5%
Days to Expiry
3
Calendar days
Total Call OI
691
Nearest expiry
Total Put OI
272
Nearest expiry
P/C OI Ratio
0.39
Put-heavy
Spot Price
$203.95
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
$155.00
6/18/2026, 11:02:59 PM
2026-07-17
$180.00
7/17/2026, 11:04:00 PM
2026-08-21NextUpdated
$165.00
8/18/2026, 11:03:19 PM
2026-09-18
$160.00
8/18/2026, 11:03:19 PM
2026-10-16
$175.00
8/18/2026, 11:03:19 PM
2027-01-15
$160.00
8/18/2026, 11:03:19 PM
Selected expiration: 2026-08-21 at max pain $165.00.
APPF pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
95
0
1221500
1221500
100
500
1085500
1086000
105
1000
950000
951000
110
1500
817500
819000
115
2500
695500
698000
120
3500
579000
582500
125
4500
516500
521000
130
6000
456500
462500
135
7500
399000
406500
140
9000
342500
351500
145
10500
288000
298500
150
12000
237000
249000
155
14000
188000
202000
160
50000
140000
190000
165
91000
95000
186000
170
141000
55000
196000
175
193500
19000
212500
180
276500
11000
287500
185
403500
6000
409500
190
540000
1000
541000
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.