This page reflects BJRI 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 — BJRI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $65.00 (0.31 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$65.00
Nearest expiry
Expected Move
±$3.05
±4.7%
Days to Expiry
3
Calendar days
Total Call OI
629
Nearest expiry
Total Put OI
221
Nearest expiry
P/C OI Ratio
0.35
Put-heavy
Spot Price
$65.31
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
$40.00
6/18/2026, 11:05:26 PM
2026-07-17
$40.00
7/17/2026, 11:07:33 PM
2026-08-21NextUpdated
$65.00
8/18/2026, 11:06:41 PM
2026-09-18
$70.00
8/18/2026, 11:06:41 PM
2026-10-16
$45.00
8/18/2026, 11:06:41 PM
2027-01-15
$55.00
8/18/2026, 11:06:41 PM
Selected expiration: 2026-08-21 at max pain $65.00.
BJRI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
245250
245250
42.5
0
192750
192750
45
250
140250
140500
47.5
500
89000
89500
50
750
58250
59000
52.5
1000
48000
49000
55
1250
38750
40000
57.5
2250
30250
32500
60
4500
22000
26500
62.5
9000
14500
23500
65
13500
7250
20750
67.5
20500
3750
24250
70
28750
750
29500
72.5
81000
250
81250
75
135250
0
135250
77.5
192250
0
192250
80
347500
0
347500
85
659000
0
659000
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.