This page reflects BHC 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 — BHC
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $6.00 (0.93 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$6.00
Nearest expiry
Expected Move
±$0.23
±3.3%
Days to Expiry
3
Calendar days
Total Call OI
9,572
Nearest expiry
Total Put OI
2,571
Nearest expiry
P/C OI Ratio
0.27
Put-heavy
Spot Price
$6.93
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
$1.00
8/7/2026, 11:07:05 PM
2026-08-14
$6.50
8/14/2026, 11:04:23 PM
2026-08-21NextUpdated
$6.00
8/18/2026, 11:06:08 PM
2026-08-28
$1.00
8/18/2026, 11:06:08 PM
2026-09-04
$1.00
8/18/2026, 11:06:08 PM
2026-09-11
$1.00
8/18/2026, 11:06:08 PM
2026-09-18
$6.00
8/18/2026, 11:06:08 PM
2026-09-25
$1.00
8/18/2026, 11:06:08 PM
2026-10-16
$6.00
8/18/2026, 11:06:08 PM
2027-01-15
$6.00
8/18/2026, 11:06:08 PM
Selected expiration: 2026-08-21 at max pain $6.00.
BHC pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
1175750
1175750
2
700
918750
919450
2.5
2650
790300
792950
3
4650
661850
666500
4
10350
406250
416600
4.5
16650
300650
317300
5
24000
195800
219800
5.5
71150
114000
185150
6
120200
37500
157700
6.5
555900
11550
567450
7
1001050
1200
1002250
7.5
1468100
650
1468750
8
1938200
200
1938400
8.5
2416300
0
2416300
9
2894400
0
2894400
9.5
3373000
0
3373000
10
3851600
0
3851600
10.5
4330200
0
4330200
11
4808800
0
4808800
11.5
5287400
0
5287400
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.