This page reflects BG 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 — BG
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $115.00 (0.64 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$115.00
Nearest expiry
Expected Move
±$2.45
±2.1%
Days to Expiry
3
Calendar days
Total Call OI
1,676
Nearest expiry
Total Put OI
1,498
Nearest expiry
P/C OI Ratio
0.89
Put-heavy
Spot Price
$114.36
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
$125.00
6/18/2026, 11:06:41 PM
2026-07-17
$115.00
7/17/2026, 11:07:15 PM
2026-08-21NextUpdated
$115.00
8/18/2026, 11:06:01 PM
2026-09-18
$115.00
8/18/2026, 11:06:01 PM
2026-10-16
$120.00
8/18/2026, 11:06:01 PM
2027-01-15
$120.00
8/18/2026, 11:06:01 PM
Selected expiration: 2026-08-21 at max pain $115.00.
BG pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
70
0
5647250
5647250
75
0
4898250
4898250
80
0
4151750
4151750
85
0
3405750
3405750
90
0
2661750
2661750
95
0
1985750
1985750
97.5
0
1704750
1704750
100
0
1425000
1425000
105
0
1010500
1010500
110
2500
636000
638500
115
86000
372000
458000
120
350000
235000
585000
125
754500
147000
901500
130
1354500
59000
1413500
135
2144000
29500
2173500
140
2954000
0
2954000
145
3783500
0
3783500
150
4620500
0
4620500
155
5458000
0
5458000
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.