This page reflects BKR 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 — BKR
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $60.00 (4.44 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$60.00
Nearest expiry
Expected Move
±$1.38
±2.1%
Days to Expiry
3
Calendar days
Total Call OI
9,940
Nearest expiry
Total Put OI
7,184
Nearest expiry
P/C OI Ratio
0.72
Put-heavy
Spot Price
$64.44
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
$55.00
6/18/2026, 11:07:17 PM
2026-07-17
$60.00
7/17/2026, 11:07:06 PM
2026-08-21NextUpdated
$60.00
8/18/2026, 11:04:02 PM
2026-09-18
$60.00
8/18/2026, 11:04:02 PM
2026-10-16
$65.00
8/18/2026, 11:04:02 PM
2026-12-18
$55.00
8/18/2026, 11:04:02 PM
2027-01-15
$55.00
8/18/2026, 11:04:02 PM
2027-03-19
$60.00
8/18/2026, 11:04:02 PM
2027-06-17
$55.00
8/18/2026, 11:04:02 PM
Selected expiration: 2026-08-21 at max pain $60.00.
BKR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
15240500
15240500
40
0
11648500
11648500
45
500
8096000
8096500
50
3500
4589500
4593000
55
11000
1366500
1377500
60
206000
63000
269000
65
2873000
20000
2893000
70
7722000
0
7722000
75
12666000
0
12666000
80
17629000
0
17629000
85
22597500
0
22597500
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.