Babcock & Wilcox Enterprises, IClose $9.14EOD only
Max Pain
$10.00
Next expiry Aug 21, 2026
Expected Move
±$0.78
8.5% from close
Price Gap
+0.86
Distance to max pain
IV Rank
8
Low premium
P/C OI
0.59
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Aug 18, 2026 close
End-of-day snapshot
This page reflects BW 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 — BW
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $10.00 (0.86 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$10.00
Nearest expiry
Expected Move
±$0.78
±8.5%
Days to Expiry
3
Calendar days
Total Call OI
21,019
Nearest expiry
Total Put OI
4,080
Nearest expiry
P/C OI Ratio
0.19
Put-heavy
Spot Price
$9.14
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
$9.50
8/7/2026, 11:06:40 PM
2026-08-14
$9.00
8/14/2026, 11:07:21 PM
2026-08-21NextUpdated
$10.00
8/18/2026, 11:07:29 PM
2026-08-28
$9.00
8/18/2026, 11:07:29 PM
2026-09-04
$9.50
8/18/2026, 11:07:29 PM
2026-09-11
$10.00
8/18/2026, 11:07:29 PM
2026-09-18
$10.00
8/18/2026, 11:07:29 PM
2026-09-25
$9.50
8/18/2026, 11:07:29 PM
2026-10-02
$8.50
8/18/2026, 11:07:29 PM
2026-11-20
$11.00
8/18/2026, 11:07:29 PM
2027-01-15
$2.50
8/18/2026, 11:07:29 PM
2027-02-19
$10.00
8/18/2026, 11:07:29 PM
Selected expiration: 2026-08-21 at max pain $10.00.
BW pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
2785200
2785200
4
2400
2203800
2206200
5
4000
1816500
1820500
5.5
5850
1637600
1643450
6
7700
1458850
1466550
6.5
10000
1281800
1291800
7
12300
1105100
1117400
7.5
17300
931150
948450
8
33600
765550
799150
8.5
58700
614200
672900
9
83800
466650
550450
9.5
134000
332550
466550
10
197350
212450
409800
10.5
411850
178000
589850
11
641200
145800
787000
11.5
898400
122850
1021250
12
1242050
100300
1342350
12.5
1669450
77900
1747350
13
2160500
64550
2225050
13.5
2657250
51600
2708850
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.