This page reflects BHP 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 — BHP
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $85.00 (4.09 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$85.00
Nearest expiry
Expected Move
±$2.70
±3.0%
Days to Expiry
3
Calendar days
Total Call OI
11,315
Nearest expiry
Total Put OI
17,140
Nearest expiry
P/C OI Ratio
1.51
Put-heavy
Spot Price
$89.09
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
$80.00
6/18/2026, 11:07:11 PM
2026-07-17
$85.00
7/17/2026, 11:06:55 PM
2026-08-21NextUpdated
$85.00
8/18/2026, 11:06:50 PM
2026-09-18
$77.50
8/18/2026, 11:06:50 PM
2026-11-20
$85.00
8/18/2026, 11:06:50 PM
2026-12-18
$85.00
8/18/2026, 11:06:50 PM
2027-01-15
$60.00
8/18/2026, 11:06:50 PM
2027-02-19
$85.00
8/18/2026, 11:06:50 PM
2027-03-19
$90.00
8/18/2026, 11:06:50 PM
2027-06-17
$75.00
8/18/2026, 11:06:50 PM
Selected expiration: 2026-08-21 at max pain $85.00.
BHP pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
37.5
0
68739500
68739500
40
0
64461500
64461500
42.5
250
60184750
60185000
45
500
55909000
55909500
47.5
750
51633750
51634500
50
1000
47359000
47360000
52.5
2500
43089500
43092000
55
4000
38856750
38860750
57.5
17250
34780000
34797250
60
30500
30752000
30782500
62.5
61250
26781500
26842750
65
99500
22958750
23058250
67.5
202750
19251250
19454000
70
324500
15669500
15994000
72.5
474250
12298500
12772750
75
624000
9089750
9713750
77.5
855000
6221750
7076750
80
1128000
3801750
4929750
82.5
1624000
2093500
3717500
85
2230750
754250
2985000
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.