This page reflects BRZE 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 — BRZE
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $22.50 (6.62 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$22.50
Nearest expiry
Expected Move
±$1.43
±4.9%
Days to Expiry
3
Calendar days
Total Call OI
11,285
Nearest expiry
Total Put OI
4,888
Nearest expiry
P/C OI Ratio
0.43
Put-heavy
Spot Price
$29.12
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
$25.00
6/18/2026, 11:06:13 PM
2026-07-17
$22.50
7/17/2026, 11:03:51 PM
2026-08-21NextUpdated
$22.50
8/18/2026, 11:07:16 PM
2026-09-18
$27.50
8/18/2026, 11:07:16 PM
2026-11-20
$27.50
8/18/2026, 11:07:16 PM
2026-12-18
$22.50
8/18/2026, 11:07:16 PM
2027-01-15
$17.50
8/18/2026, 11:07:16 PM
2027-02-19
$22.50
8/18/2026, 11:07:16 PM
Selected expiration: 2026-08-21 at max pain $22.50.
BRZE pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
9392500
9392500
5
1250
8170500
8171750
7.5
2750
6951000
6953750
10
4500
5732500
5737000
12.5
6250
4547250
4553500
15
8250
3376000
3384250
17.5
13000
2253500
2266500
20
21250
1169250
1190500
22.5
166250
232500
398750
25
606000
90000
696000
27.5
1274250
9500
1283750
30
2848250
0
2848250
32.5
5072500
0
5072500
35
7404000
0
7404000
37.5
10213000
0
10213000
40
13027500
0
13027500
42.5
15843500
0
15843500
45
18659500
0
18659500
50
24302000
0
24302000
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.