This page reflects ARR 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 — ARR
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $17.00 (0.52 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$17.00
Nearest expiry
Expected Move
±$0.53
±3.2%
Days to Expiry
2
Calendar days
Total Call OI
2,949
Nearest expiry
Total Put OI
2,006
Nearest expiry
P/C OI Ratio
0.68
Put-heavy
Spot Price
$16.48
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
$17.00
6/18/2026, 11:03:38 PM
2026-07-17
$17.00
7/17/2026, 11:03:32 PM
2026-08-21NextUpdated
$17.00
8/19/2026, 11:04:34 PM
2026-09-18
$17.00
8/19/2026, 11:04:34 PM
2026-10-16
$16.00
8/19/2026, 11:04:34 PM
2027-01-15
$16.00
8/19/2026, 11:04:34 PM
Selected expiration: 2026-08-21 at max pain $17.00.
ARR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
9
0
1373700
1373700
10
0
1173400
1173400
11
100
973100
973200
12
300
772800
773100
13
700
572500
573200
14
1200
372200
373400
15
1700
171900
173600
16
2200
41600
43800
17
23600
3200
26800
18
251300
700
252000
19
538600
500
539100
20
831600
300
831900
21
1124600
100
1124700
22
1417600
0
1417600
23
1710600
0
1710600
24
2003600
0
2003600
25
2296600
0
2296600
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.