This page reflects BAND 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 — BAND
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $55.00 (2.06 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$55.00
Nearest expiry
Expected Move
±$4.62
±8.7%
Days to Expiry
3
Calendar days
Total Call OI
4,851
Nearest expiry
Total Put OI
8,626
Nearest expiry
P/C OI Ratio
1.78
Put-heavy
Spot Price
$52.94
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
$40.00
6/18/2026, 11:06:30 PM
2026-07-17
$55.00
7/17/2026, 11:06:33 PM
2026-08-21NextUpdated
$55.00
8/18/2026, 11:05:57 PM
2026-09-18
$45.00
8/18/2026, 11:05:57 PM
2026-11-20
$50.00
8/18/2026, 11:05:57 PM
2027-02-19
$40.00
8/18/2026, 11:05:57 PM
2027-03-19
$50.00
8/18/2026, 11:05:57 PM
Selected expiration: 2026-08-21 at max pain $55.00.
BAND pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
39471000
39471000
5
49500
37439500
37489000
7.5
130500
35408750
35539250
10
216250
33379000
33595250
12.5
303500
31353250
31656750
15
396000
29335250
29731250
17.5
506750
27321000
27827750
20
707500
25306750
26014250
22.5
922250
23294750
24217000
25
1139000
21283000
22422000
30
1633500
17260500
18894000
35
2353000
13255500
15608500
40
3082500
9453500
12536000
45
3839500
5681000
9520500
50
4743500
2612500
7356000
55
5968000
1385000
7353000
60
7396000
680500
8076500
65
8910500
0
8910500
70
10578000
0
10578000
75
12302500
0
12302500
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.