This page reflects BHE 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 — BHE
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $70.00 (6.71 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$70.00
Nearest expiry
Expected Move
±$2.67
±3.5%
Days to Expiry
3
Calendar days
Total Call OI
1,492
Nearest expiry
Total Put OI
68
Nearest expiry
P/C OI Ratio
0.05
Put-heavy
Spot Price
$76.71
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
$75.00
6/18/2026, 11:06:55 PM
2026-07-17
$75.00
7/17/2026, 11:07:22 PM
2026-08-21NextUpdated
$70.00
8/18/2026, 11:06:33 PM
2026-09-18
$70.00
8/18/2026, 11:06:33 PM
2026-10-16
$65.00
8/18/2026, 11:06:33 PM
2026-11-20
$80.00
8/18/2026, 11:06:33 PM
2027-01-15
$65.00
8/18/2026, 11:06:33 PM
Selected expiration: 2026-08-21 at max pain $70.00.
BHE pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
161000
161000
65
0
130000
130000
70
0
102000
102000
75
28000
80500
108500
80
58500
66500
125000
85
138000
56500
194500
90
308000
48000
356000
95
538000
40000
578000
100
792000
32000
824000
105
1136000
24000
1160000
110
1540000
16000
1556000
115
2064000
8000
2072000
120
2594500
0
2594500
125
3155000
0
3155000
130
3723000
0
3723000
135
4370000
0
4370000
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.