British American Tobacco IndusClose $56.38EOD only
Max Pain
$60.00
Next expiry Aug 21, 2026
Expected Move
±$1.73
3.1% from close
Price Gap
+3.62
Distance to max pain
IV Rank
19
Low premium
P/C OI
0.43
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Aug 18, 2026 close
End-of-day snapshot
This page reflects BTI 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 — BTI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $60.00 (3.62 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$60.00
Nearest expiry
Expected Move
±$1.73
±3.1%
Days to Expiry
3
Calendar days
Total Call OI
10,133
Nearest expiry
Total Put OI
1,528
Nearest expiry
P/C OI Ratio
0.15
Put-heavy
Spot Price
$56.38
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
$55.00
6/18/2026, 11:06:48 PM
2026-07-17
$60.00
7/17/2026, 11:08:23 PM
2026-08-21NextUpdated
$60.00
8/18/2026, 11:07:17 PM
2026-09-18
$60.00
8/18/2026, 11:07:17 PM
2026-12-18
$55.00
8/18/2026, 11:07:17 PM
2027-01-15
$50.00
8/18/2026, 11:07:17 PM
2027-03-19
$60.00
8/18/2026, 11:07:17 PM
2027-06-17
$50.00
8/18/2026, 11:07:17 PM
2027-07-16
$60.00
8/18/2026, 11:07:17 PM
Selected expiration: 2026-08-21 at max pain $60.00.
BTI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
3160500
3160500
40
1500
2396500
2398000
45
6000
1633000
1639000
50
11000
902500
913500
55
17000
235500
252500
60
143500
500
144000
65
596000
0
596000
70
5035500
0
5035500
75
10082000
0
10082000
80
15148000
0
15148000
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.