This page reflects ASPI options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 17, 2026 close
Max Pain — ASPI
Data as of market close Aug 17, 2026
Nearest listed expiration 2026-08-21 shows max pain at $4.00 (0.02 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$4.00
Nearest expiry
Expected Move
±$0.35
±8.7%
Days to Expiry
4
Calendar days
Total Call OI
28,366
Nearest expiry
Total Put OI
3,680
Nearest expiry
P/C OI Ratio
0.13
Put-heavy
Spot Price
$4.02
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
$4.50
8/7/2026, 11:05:04 PM
2026-08-14
$4.50
8/14/2026, 11:05:16 PM
2026-08-21NextUpdated
$4.00
8/17/2026, 11:04:35 PM
2026-08-28
$4.50
8/17/2026, 11:04:35 PM
2026-09-04
$0.50
8/17/2026, 11:04:35 PM
2026-09-11
$0.50
8/17/2026, 11:04:35 PM
2026-09-18
$6.00
8/17/2026, 11:04:35 PM
2026-09-25
$0.50
8/17/2026, 11:04:35 PM
2026-10-02
$0.50
8/17/2026, 11:04:35 PM
2026-10-16
$6.00
8/17/2026, 11:04:35 PM
2027-01-15
$5.00
8/17/2026, 11:04:35 PM
Selected expiration: 2026-08-21 at max pain $4.00.
ASPI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
1301200
1301200
1.5
200
1117200
1117400
2
550
933200
933750
2.5
1100
749200
750300
3
1650
565400
567050
3.5
8950
402600
411550
4
16300
246150
262450
4.5
548000
129200
677200
5
1599300
40850
1640150
5.5
2766850
24850
2791700
6
3951500
9100
3960600
6.5
5242450
6200
5248650
7
6534450
3300
6537750
7.5
7908950
2300
7911250
8
9283450
1900
9285350
9
12068850
1300
12070150
10
14880150
800
14880950
11
17713950
300
17714250
12
20549650
0
20549650
13
23386050
0
23386050
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.