This page reflects ARDX 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 — ARDX
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $5.00 (1.08 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$5.00
Nearest expiry
Expected Move
±$0.15
±3.8%
Days to Expiry
3
Calendar days
Total Call OI
10,986
Nearest expiry
Total Put OI
3,562
Nearest expiry
P/C OI Ratio
0.32
Put-heavy
Spot Price
$3.92
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
$6.00
6/18/2026, 11:04:23 PM
2026-07-17
$6.00
7/17/2026, 11:05:18 PM
2026-08-21NextUpdated
$5.00
8/18/2026, 11:04:38 PM
2026-09-18
$5.00
8/18/2026, 11:04:38 PM
2026-10-16
$5.00
8/18/2026, 11:04:38 PM
2027-01-15
$4.00
8/18/2026, 11:04:38 PM
Selected expiration: 2026-08-21 at max pain $5.00.
ARDX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
1384500
1384500
2
10900
1028600
1039500
3
22600
672700
695300
4
34400
316800
351200
5
168100
42500
210600
6
551500
16700
568200
7
1390600
200
1390800
8
2400700
0
2400700
9
3496400
0
3496400
10
4594400
0
4594400
11
5692800
0
5692800
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.