This page reflects AXSM 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 — AXSM
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $230.00 (14.31 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$230.00
Nearest expiry
Expected Move
±$7.40
±3.4%
Days to Expiry
3
Calendar days
Total Call OI
2,818
Nearest expiry
Total Put OI
2,480
Nearest expiry
P/C OI Ratio
0.88
Put-heavy
Spot Price
$215.69
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
$200.00
6/18/2026, 11:05:52 PM
2026-07-17
$230.00
7/17/2026, 11:05:55 PM
2026-08-21NextUpdated
$230.00
8/18/2026, 11:06:10 PM
2026-09-18
$200.00
8/18/2026, 11:06:10 PM
2026-12-18
$200.00
8/18/2026, 11:06:10 PM
2027-01-15
$160.00
8/18/2026, 11:06:10 PM
2027-03-19
$150.00
8/18/2026, 11:06:10 PM
Selected expiration: 2026-08-21 at max pain $230.00.
AXSM pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
155
0
13069500
13069500
160
1500
11830000
11831500
165
4000
10590500
10594500
170
6500
9372000
9378500
175
9000
8153500
8162500
180
11500
6983000
6994500
185
14500
5899000
5913500
190
17500
4835000
4852500
195
26500
3797500
3824000
200
36000
2801000
2837000
210
102000
1535000
1637000
220
207000
492000
699000
230
475000
154000
629000
240
821000
10000
831000
250
1274000
3000
1277000
260
1902000
0
1902000
270
2942000
0
2942000
280
4513000
0
4513000
290
7049000
0
7049000
300
9660000
0
9660000
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.