This page reflects APPN 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 — APPN
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $27.50 (8.93 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$27.50
Nearest expiry
Expected Move
±$2.27
±6.2%
Days to Expiry
3
Calendar days
Total Call OI
4,025
Nearest expiry
Total Put OI
3,291
Nearest expiry
P/C OI Ratio
0.82
Put-heavy
Spot Price
$36.43
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
$20.00
6/18/2026, 11:04:51 PM
2026-07-17
$22.50
7/17/2026, 11:04:10 PM
2026-08-21NextUpdated
$27.50
8/18/2026, 11:04:11 PM
2026-09-18
$30.00
8/18/2026, 11:04:11 PM
2026-11-20
$27.50
8/18/2026, 11:04:11 PM
2027-01-15
$22.50
8/18/2026, 11:04:11 PM
2027-02-19
$25.00
8/18/2026, 11:04:11 PM
Selected expiration: 2026-08-21 at max pain $27.50.
APPN pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
10
0
4654250
4654250
12.5
0
3833000
3833000
15
1250
3012250
3013500
17.5
5500
2236500
2242000
20
13000
1496750
1509750
22.5
23500
841250
864750
25
56750
305250
362000
27.5
159000
198250
357250
30
368000
100000
468000
32.5
1016250
15250
1031500
35
1922750
9500
1932250
37.5
2874750
7750
2882500
40
3840250
6250
3846500
42.5
4832000
5000
4837000
45
5826250
3750
5830000
47.5
6826000
2500
6828500
50
7831750
1500
7833250
55
9844250
0
9844250
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.