This page reflects BCAX 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 — BCAX
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $25.00 (0.08 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$2.95
±11.8%
Days to Expiry
3
Calendar days
Total Call OI
321
Nearest expiry
Total Put OI
1,268
Nearest expiry
P/C OI Ratio
3.95
Put-heavy
Spot Price
$24.92
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
$20.00
6/18/2026, 11:05:33 PM
2026-07-17
$2.50
7/17/2026, 11:07:00 PM
2026-08-21NextUpdated
$25.00
8/18/2026, 11:06:10 PM
2026-10-16
$25.00
8/18/2026, 11:06:10 PM
2026-12-18
$22.50
8/18/2026, 11:06:10 PM
2027-01-15
$22.50
8/18/2026, 11:06:10 PM
2027-03-19
$25.00
8/18/2026, 11:06:10 PM
Selected expiration: 2026-08-21 at max pain $25.00.
BCAX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
2474000
2474000
5
250
2164750
2165000
7.5
500
1855500
1856000
10
750
1546500
1547250
12.5
1000
1237500
1238500
15
1250
928500
929750
17.5
1500
619500
621000
20
77000
385500
462500
22.5
152750
151500
304250
25
231000
0
231000
30
388500
0
388500
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.