This page reflects BGC 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 — BGC
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $10.00 (0.80 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$10.00
Nearest expiry
Expected Move
±$0.38
±3.5%
Days to Expiry
2
Calendar days
Total Call OI
1,069
Nearest expiry
Total Put OI
779
Nearest expiry
P/C OI Ratio
0.73
Put-heavy
Spot Price
$10.80
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
$11.00
6/18/2026, 11:05:45 PM
2026-07-17
$12.00
7/17/2026, 11:07:14 PM
2026-08-21NextUpdated
$10.00
8/19/2026, 11:05:52 PM
2026-09-18
$12.00
8/19/2026, 11:05:52 PM
2026-11-20
$9.00
8/19/2026, 11:05:52 PM
2026-12-18
$5.00
8/19/2026, 11:05:52 PM
2027-02-19
$7.00
8/19/2026, 11:05:52 PM
Selected expiration: 2026-08-21 at max pain $10.00.
BGC pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
630000
630000
2
0
552200
552200
3
0
474600
474600
5
200
319400
319600
6
300
241800
242100
7
400
164300
164700
8
500
87200
87700
9
6300
44600
50900
10
16200
15800
32000
11
36900
900
37800
12
84800
0
84800
13
166200
0
166200
14
251200
0
251200
15
346400
0
346400
16
441700
0
441700
20
862900
0
862900
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.