This page reflects BMO 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 — BMO
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $175.00 (7.57 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$175.00
Nearest expiry
Expected Move
±$3.75
±2.0%
Days to Expiry
3
Calendar days
Total Call OI
1,450
Nearest expiry
Total Put OI
1,988
Nearest expiry
P/C OI Ratio
1.37
Put-heavy
Spot Price
$182.57
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
$150.00
6/18/2026, 11:07:40 PM
2026-07-17
$165.00
7/17/2026, 11:07:27 PM
2026-08-21NextUpdated
$175.00
8/18/2026, 11:07:18 PM
2026-09-18
$160.00
8/18/2026, 11:07:18 PM
2026-10-16
$190.00
8/18/2026, 11:07:18 PM
2026-11-20
$150.00
8/18/2026, 11:07:18 PM
2026-12-18
$175.00
8/18/2026, 11:07:18 PM
2027-01-15
$145.00
8/18/2026, 11:07:18 PM
2027-03-19
$160.00
8/18/2026, 11:07:18 PM
Selected expiration: 2026-08-21 at max pain $175.00.
BMO pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
120
0
9613500
9613500
130
0
7676500
7676500
135
0
6709000
6709000
140
0
5767000
5767000
145
0
4875000
4875000
150
0
4009000
4009000
155
0
3158000
3158000
160
0
2310000
2310000
165
1000
1498500
1499500
170
68500
804500
873000
175
233500
252500
486000
180
721000
59000
780000
185
1287000
2500
1289500
190
1957000
0
1957000
195
2645000
0
2645000
200
3369000
0
3369000
220
6267000
0
6267000
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.