Nearest listed expiration 2026-08-21 shows max pain at $118.00 (6.71 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$118.00
Nearest expiry
Expected Move
±$8.55
±6.9%
Days to Expiry
4
Calendar days
Total Call OI
197,502
Nearest expiry
Total Put OI
102,709
Nearest expiry
P/C OI Ratio
0.52
Put-heavy
Spot Price
$124.71
Published close
Consensus
6.0/10
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
$121.00
8/7/2026, 11:05:54 PM
2026-08-14
$122.00
8/14/2026, 11:04:59 PM
2026-08-21NextUpdated
$118.00
8/17/2026, 11:05:59 PM
2026-08-28
$119.00
8/17/2026, 11:05:59 PM
2026-09-04
$120.00
8/17/2026, 11:05:59 PM
2026-09-11
$115.00
8/17/2026, 11:05:59 PM
2026-09-18
$110.00
8/17/2026, 11:05:59 PM
2026-09-25
$121.00
8/17/2026, 11:05:59 PM
2026-10-02
$120.00
8/17/2026, 11:05:59 PM
2026-10-16
$115.00
8/17/2026, 11:05:59 PM
2026-11-20
$115.00
8/17/2026, 11:05:59 PM
2026-12-18
$110.00
8/17/2026, 11:05:59 PM
2027-01-15
$135.00
8/17/2026, 11:05:59 PM
2027-02-19
$130.00
8/17/2026, 11:05:59 PM
2027-03-19
$125.00
8/17/2026, 11:05:59 PM
2027-06-17
$120.00
8/17/2026, 11:05:59 PM
Selected expiration: 2026-08-21 at max pain $118.00.
BABA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
17.5
0
890430750
890430750
20
14250
864753500
864767750
22.5
39250
839076250
839115500
25
72000
813399000
813471000
30
150500
762044500
762195000
35
243500
710697000
710940500
40
357000
659362000
659719000
45
498500
611183500
611682000
50
643000
563041000
563684000
55
787500
515024000
515811500
60
932000
467031000
467963000
65
1091000
419067000
420158000
70
1251000
371837500
373088500
75
1418000
325621000
327039000
80
1588500
279936000
281524500
85
1778500
235619000
237397500
90
2018000
192081500
194099500
95
2555500
152137000
154692500
100
3208000
113787500
116995500
101
3679500
107115400
110794900
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.