This page reflects ATI 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 — ATI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $180.00 (46.46 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$180.00
Nearest expiry
Expected Move
±$8.45
±3.7%
Days to Expiry
3
Calendar days
Total Call OI
4,221
Nearest expiry
Total Put OI
3,634
Nearest expiry
P/C OI Ratio
0.86
Put-heavy
Spot Price
$226.46
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
$160.00
6/18/2026, 11:05:07 PM
2026-07-17
$180.00
7/17/2026, 11:05:38 PM
2026-08-21NextUpdated
$180.00
8/18/2026, 11:04:55 PM
2026-09-18
$195.00
8/18/2026, 11:04:55 PM
2026-10-16
$170.00
8/18/2026, 11:04:55 PM
2026-11-20
$155.00
8/18/2026, 11:04:55 PM
2027-01-15
$125.00
8/18/2026, 11:04:55 PM
Selected expiration: 2026-08-21 at max pain $180.00.
ATI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
37.5
0
48791250
48791250
40
0
47883250
47883250
45
1500
46067750
46069250
50
3000
44252750
44255750
55
4500
42438250
42442750
60
8500
40624250
40632750
65
13000
38813250
38826250
67.5
15750
37908000
37923750
70
19000
37002750
37021750
72.5
23000
36097500
36120500
75
27250
35196500
35223750
77.5
31500
34297750
34329250
80
36250
33399000
33435250
85
54250
31605000
31659250
87.5
64000
30708000
30772000
90
74000
29811000
29885000
92.5
84000
28914250
28998250
95
94500
28017500
28112000
100
115500
26225000
26340500
105
136500
24437000
24573500
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.