This page reflects BTG 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 — BTG
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $4.50 (0.48 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$4.50
Nearest expiry
Expected Move
±$0.18
±3.5%
Days to Expiry
3
Calendar days
Total Call OI
37,482
Nearest expiry
Total Put OI
106,401
Nearest expiry
P/C OI Ratio
2.84
Put-heavy
Spot Price
$4.98
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
2026-08-07
$4.00
8/7/2026, 11:07:40 PM
2026-08-14
$4.00
8/14/2026, 11:04:29 PM
2026-08-21NextUpdated
$4.50
8/18/2026, 11:07:04 PM
2026-08-28
$4.00
8/18/2026, 11:07:04 PM
2026-09-04
$3.00
8/18/2026, 11:07:04 PM
2026-09-11
$0.50
8/18/2026, 11:07:04 PM
2026-09-18
$4.00
8/18/2026, 11:07:04 PM
2026-09-25
$0.50
8/18/2026, 11:07:04 PM
2026-10-02
$0.50
8/18/2026, 11:07:04 PM
2026-10-16
$4.00
8/18/2026, 11:07:04 PM
2026-11-20
$4.00
8/18/2026, 11:07:04 PM
2027-01-15
$3.00
8/18/2026, 11:07:04 PM
Selected expiration: 2026-08-21 at max pain $4.50.
BTG pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
33297600
33297600
1
350
27977550
27977900
1.5
1800
22657600
22659400
2
3400
17337650
17341050
2.5
5150
12022100
12027250
3
7800
6707050
6714850
3.5
28250
1895050
1923300
4
70450
421550
492000
4.5
218450
167000
385450
5
557900
24950
582850
5.5
1665450
3600
1669050
6
3178450
1250
3179700
6.5
4721750
950
4722700
7
6265050
650
6265700
7.5
7808500
450
7808950
8
9521100
400
9521500
9
12946300
300
12946600
10
16388800
200
16389000
11
20134900
100
20135000
12
23882300
0
23882300
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.