This page reflects BMA 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 — BMA
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $75.00 (1.08 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$75.00
Nearest expiry
Expected Move
±$2.80
±3.7%
Days to Expiry
3
Calendar days
Total Call OI
820
Nearest expiry
Total Put OI
154
Nearest expiry
P/C OI Ratio
0.19
Put-heavy
Spot Price
$76.08
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, 11:05:56 PM
2026-07-17
$95.00
7/17/2026, 11:07:09 PM
2026-08-21NextUpdated
$75.00
8/18/2026, 11:07:07 PM
2026-09-18
$80.00
8/18/2026, 11:07:07 PM
2026-10-16
$95.00
8/18/2026, 11:07:07 PM
2027-01-15
$90.00
8/18/2026, 11:07:07 PM
Selected expiration: 2026-08-21 at max pain $75.00.
BMA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
70
0
152500
152500
75
0
77000
77000
80
85000
1500
86500
85
321000
500
321500
90
557000
0
557000
95
803000
0
803000
100
1068000
0
1068000
105
1337500
0
1337500
110
1741000
0
1741000
115
2149000
0
2149000
120
2558000
0
2558000
125
2967500
0
2967500
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.