This page reflects BL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 19, 2026 close
Max Pain — BL
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $42.50 (11.07 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$42.50
Nearest expiry
Expected Move
±$2.47
±7.9%
Days to Expiry
2
Calendar days
Total Call OI
580
Nearest expiry
Total Put OI
7,058
Nearest expiry
P/C OI Ratio
12.17
Put-heavy
Spot Price
$31.43
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
$27.50
6/18/2026, 11:06:00 PM
2026-07-17
$25.00
7/17/2026, 11:03:50 PM
2026-08-21NextUpdated
$42.50
8/19/2026, 11:05:42 PM
2026-09-18
$27.50
8/19/2026, 11:05:42 PM
2026-11-20
$27.50
8/19/2026, 11:05:42 PM
2026-12-18
$27.50
8/19/2026, 11:05:42 PM
2027-01-15
$32.50
8/19/2026, 11:05:42 PM
2027-02-19
$25.00
8/19/2026, 11:05:42 PM
2027-03-19
$25.00
8/19/2026, 11:05:42 PM
Selected expiration: 2026-08-21 at max pain $42.50.
BL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
17.5
0
8347000
8347000
20
0
6583000
6583000
22.5
0
4847250
4847250
25
2500
3191750
3194250
27.5
5500
2488500
2494000
30
15500
1812750
1828250
32.5
76500
1389250
1465750
35
152750
971250
1124000
37.5
261250
650500
911750
40
375500
329750
705250
42.5
508500
30750
539250
45
646000
23000
669000
50
923500
7500
931000
52.5
1063000
0
1063000
55
1205250
0
1205250
57.5
1348500
0
1348500
60
1493500
0
1493500
62.5
1638500
0
1638500
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.