This page reflects BAX options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 19, 2026 close
Max Pain — BAX
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $22.00 (4.64 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$22.00
Nearest expiry
Expected Move
±$0.95
±3.6%
Days to Expiry
2
Calendar days
Total Call OI
9,141
Nearest expiry
Total Put OI
4,486
Nearest expiry
P/C OI Ratio
0.49
Put-heavy
Spot Price
$26.64
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
2026-08-07
$23.00
8/7/2026, 11:05:17 PM
2026-08-14
$25.00
8/14/2026, 11:05:42 PM
2026-08-21NextUpdated
$22.00
8/19/2026, 11:05:37 PM
2026-08-28
$25.00
8/19/2026, 11:05:37 PM
2026-09-04
$24.00
8/19/2026, 11:05:37 PM
2026-09-11
$24.00
8/19/2026, 11:05:37 PM
2026-09-18
$20.00
8/19/2026, 11:05:37 PM
2026-09-25
$25.00
8/19/2026, 11:05:37 PM
2026-10-02
$24.00
8/19/2026, 11:05:37 PM
2026-11-20
$25.00
8/19/2026, 11:05:37 PM
2026-12-18
$25.00
8/19/2026, 11:05:37 PM
2027-01-15
$20.00
8/19/2026, 11:05:37 PM
2027-02-19
$20.00
8/19/2026, 11:05:37 PM
2027-03-19
$20.00
8/19/2026, 11:05:37 PM
2027-06-17
$20.00
8/19/2026, 11:05:37 PM
Selected expiration: 2026-08-21 at max pain $22.00.
BAX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
6553800
6553800
7.5
2000
5436800
5438800
10
5250
4320300
4325550
12.5
13250
3206550
3219800
14
26300
2578800
2605100
15
35000
2160600
2195600
16
49100
1785200
1834300
17.5
71000
1222100
1293100
18.5
112300
968800
1081100
19
133150
842400
975550
19.5
154350
716100
870450
20
175550
589950
765500
20.5
230900
523350
754250
21
286350
456800
743150
21.5
341900
390350
732250
22
397450
325200
722650
22.5
454200
279900
734100
23
646650
240650
887300
23.5
849800
202200
1052000
24
1053250
164400
1217650
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.