This page reflects BMI 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 — BMI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $130.00 (4.11 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$130.00
Nearest expiry
Expected Move
±$4.45
±3.5%
Days to Expiry
3
Calendar days
Total Call OI
885
Nearest expiry
Total Put OI
684
Nearest expiry
P/C OI Ratio
0.77
Put-heavy
Spot Price
$125.89
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
$120.00
6/18/2026, 11:06:17 PM
2026-07-17
$140.00
7/17/2026, 11:07:23 PM
2026-08-21NextUpdated
$130.00
8/18/2026, 11:06:56 PM
2026-09-18
$140.00
8/18/2026, 11:06:56 PM
2026-11-20
$125.00
8/18/2026, 11:06:56 PM
2027-02-19
$140.00
8/18/2026, 11:06:56 PM
Selected expiration: 2026-08-21 at max pain $130.00.
BMI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
80
0
2107500
2107500
90
0
1426500
1426500
95
1000
1100500
1101500
100
2000
821500
823500
105
8000
642500
650500
110
14500
480500
495000
115
23500
333000
356500
120
43500
215500
259000
125
70500
136500
207000
130
103000
80000
183000
135
157000
42500
199500
140
283500
12000
295500
145
431000
2500
433500
150
584500
1000
585500
155
747500
500
748000
160
925000
0
925000
165
1154500
0
1154500
170
1455500
0
1455500
175
1763500
0
1763500
180
2076500
0
2076500
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.