This page reflects BURL 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 — BURL
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $350.00 (13.05 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$350.00
Nearest expiry
Expected Move
±$6.55
±1.9%
Days to Expiry
3
Calendar days
Total Call OI
2,048
Nearest expiry
Total Put OI
2,468
Nearest expiry
P/C OI Ratio
1.21
Put-heavy
Spot Price
$336.95
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
$345.00
8/7/2026, 11:06:40 PM
2026-08-14
$362.50
8/14/2026, 11:06:20 PM
2026-08-21NextUpdated
$350.00
8/18/2026, 11:03:56 PM
2026-08-28
$350.00
8/18/2026, 11:03:56 PM
2026-09-04
$350.00
8/18/2026, 11:03:56 PM
2026-09-11
$360.00
8/18/2026, 11:03:56 PM
2026-09-18
$320.00
8/18/2026, 11:03:56 PM
2026-09-25
$355.00
8/18/2026, 11:03:56 PM
2026-10-16
$340.00
8/18/2026, 11:03:56 PM
2026-11-20
$310.00
8/18/2026, 11:03:56 PM
2026-12-18
$270.00
8/18/2026, 11:03:56 PM
2027-01-15
$310.00
8/18/2026, 11:03:56 PM
2027-03-19
$300.00
8/18/2026, 11:03:56 PM
Selected expiration: 2026-08-21 at max pain $350.00.
BURL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
150
0
40011750
40011750
155
500
38778250
38778750
165
3500
36311250
36314750
175
6500
33844250
33850750
210
20500
25209750
25230250
220
26500
22742750
22769250
230
32500
20277750
20310250
240
48500
17812750
17861250
250
70500
15347750
15418250
260
93500
12975750
13069250
270
119500
10630750
10750250
275
134000
9528750
9662750
280
149000
8426750
8575750
285
165000
7453250
7618250
290
181500
6479750
6661250
300
215500
4754750
4970250
310
271500
3217750
3489250
315
344500
2673250
3017750
320
417500
2131250
2548750
325
518000
1661250
2179250
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.