This page reflects AS 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 — AS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $32.50 (1.12 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$32.50
Nearest expiry
Expected Move
±$1.55
±4.6%
Days to Expiry
3
Calendar days
Total Call OI
55,483
Nearest expiry
Total Put OI
44,356
Nearest expiry
P/C OI Ratio
0.80
Put-heavy
Spot Price
$33.62
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
$32.50
6/18/2026, 11:04:41 PM
2026-07-17
$32.50
7/17/2026, 11:03:53 PM
2026-08-21NextUpdated
$32.50
8/18/2026, 11:04:46 PM
2026-09-18
$32.50
8/18/2026, 11:04:46 PM
2026-12-18
$35.00
8/18/2026, 11:04:46 PM
2027-01-15
$35.00
8/18/2026, 11:04:46 PM
2027-03-19
$30.00
8/18/2026, 11:04:46 PM
Selected expiration: 2026-08-21 at max pain $32.50.
AS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
22.5
0
33942750
33942750
25
0
22854500
22854500
27.5
0
11804750
11804750
30
3500
5262250
5265750
32.5
595000
1509000
2104000
35
8567500
646500
9214000
37.5
19250250
1500
19251750
40
30958250
500
30958750
42.5
44305750
250
44306000
45
58174500
0
58174500
47.5
72045000
0
72045000
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.