This page reflects ARW 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 — ARW
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $210.00 (3.51 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$210.00
Nearest expiry
Expected Move
±$7.40
±3.5%
Days to Expiry
3
Calendar days
Total Call OI
1,935
Nearest expiry
Total Put OI
674
Nearest expiry
P/C OI Ratio
0.35
Put-heavy
Spot Price
$213.51
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
$135.00
6/18/2026, 11:03:40 PM
2026-07-17
$200.00
7/17/2026, 11:05:02 PM
2026-08-21NextUpdated
$210.00
8/18/2026, 11:04:44 PM
2026-09-18
$210.00
8/18/2026, 11:04:44 PM
2026-12-18
$230.00
8/18/2026, 11:04:44 PM
2027-03-19
$190.00
8/18/2026, 11:04:44 PM
Selected expiration: 2026-08-21 at max pain $210.00.
ARW pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
145
0
4351000
4351000
160
0
3341500
3341500
165
0
3006500
3006500
175
0
2337500
2337500
180
0
2004000
2004000
185
0
1672000
1672000
190
500
1355500
1356000
195
1000
1042000
1043000
200
4000
736000
740000
210
96000
145000
241000
220
480000
2000
482000
230
1171000
1000
1172000
240
2466000
0
2466000
250
4331000
0
4331000
260
6254000
0
6254000
270
8179000
0
8179000
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.