This page reflects BAP 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 — BAP
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $340.00 (28.44 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$340.00
Nearest expiry
Expected Move
±$10.53
±2.9%
Days to Expiry
3
Calendar days
Total Call OI
2,415
Nearest expiry
Total Put OI
474
Nearest expiry
P/C OI Ratio
0.20
Put-heavy
Spot Price
$368.44
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
$330.00
6/18/2026, 11:05:44 PM
2026-07-17
$320.00
7/17/2026, 11:06:13 PM
2026-08-21NextUpdated
$340.00
8/18/2026, 11:06:06 PM
2026-09-18
$380.00
8/18/2026, 11:06:06 PM
2026-11-20
$390.00
8/18/2026, 11:06:06 PM
2027-02-19
$390.00
8/18/2026, 11:06:06 PM
Selected expiration: 2026-08-21 at max pain $340.00.
BAP pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
170
0
7059000
7059000
175
0
6822000
6822000
180
0
6585000
6585000
185
0
6348000
6348000
195
0
5874000
5874000
200
0
5637000
5637000
210
1000
5166000
5167000
220
2000
4699000
4701000
230
3000
4232000
4235000
240
4000
3770000
3774000
250
5000
3309000
3314000
270
7000
2409000
2416000
280
9000
1963000
1972000
290
11000
1521000
1532000
300
14000
1082000
1096000
310
18000
839000
857000
320
22000
599000
621000
330
44000
393000
437000
340
155000
230000
385000
350
270000
149000
419000
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.