This page reflects BIRK 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 — BIRK
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $47.50 (10.27 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$47.50
Nearest expiry
Expected Move
±$1.35
±3.6%
Days to Expiry
3
Calendar days
Total Call OI
2,826
Nearest expiry
Total Put OI
26,822
Nearest expiry
P/C OI Ratio
9.49
Put-heavy
Spot Price
$37.23
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
$47.50
6/18/2026, 11:04:31 PM
2026-07-17
$47.50
7/17/2026, 11:06:55 PM
2026-08-21NextUpdated
$47.50
8/18/2026, 11:06:56 PM
2026-09-18
$40.00
8/18/2026, 11:06:56 PM
2026-10-16
$45.00
8/18/2026, 11:06:56 PM
2027-01-15
$37.50
8/18/2026, 11:06:56 PM
Selected expiration: 2026-08-21 at max pain $47.50.
BIRK pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
22.5
0
42258500
42258500
25
0
35553250
35553250
27.5
0
28859250
28859250
30
0
22184000
22184000
32.5
3250
15535500
15538750
35
6500
9188500
9195000
37.5
17250
5369500
5386750
40
117750
2326750
2444500
42.5
273000
1546750
1819750
45
500000
775500
1275500
47.5
1130500
13500
1144000
50
1769500
6500
1776000
52.5
2469000
3250
2472250
55
3171250
0
3171250
60
4582250
0
4582250
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.