This page reflects AR options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 19, 2026 close
Max Pain — AR
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $36.00 (1.07 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$36.00
Nearest expiry
Expected Move
±$0.80
±2.2%
Days to Expiry
2
Calendar days
Total Call OI
24,644
Nearest expiry
Total Put OI
117,729
Nearest expiry
P/C OI Ratio
4.78
Put-heavy
Spot Price
$37.07
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, 11:04:51 PM
2026-08-14
$35.00
8/14/2026, 11:02:21 PM
2026-08-21NextUpdated
$36.00
8/19/2026, 11:03:38 PM
2026-08-28
$36.00
8/19/2026, 11:03:38 PM
2026-09-04
$36.00
8/19/2026, 11:03:38 PM
2026-09-11
$34.00
8/19/2026, 11:03:38 PM
2026-09-18
$36.00
8/19/2026, 11:03:38 PM
2026-09-25
$37.00
8/19/2026, 11:03:38 PM
2026-11-20
$35.00
8/19/2026, 11:03:38 PM
2027-01-15
$35.00
8/19/2026, 11:03:38 PM
2027-02-19
$31.00
8/19/2026, 11:03:38 PM
Selected expiration: 2026-08-21 at max pain $36.00.
AR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
125994250
125994250
25
2000
67130250
67132250
26
5400
55364550
55369950
27
8800
43605050
43613850
28
12400
31855150
31867550
29
17000
20111050
20128050
30
22000
8379750
8401750
30.5
32100
7630450
7662550
31
42200
6881350
6923550
31.5
54050
6182700
6236750
32
65900
5484250
5550150
32.5
79550
4803950
4883500
33
93750
4125400
4219150
33.5
113100
3514300
3627400
34
142850
2918100
3060950
34.5
238850
2365850
2604700
35
340600
1822450
2163050
35.5
589000
1402300
1991300
36
847100
987900
1835000
36.5
1143500
746800
1890300
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.