This page reflects CABA 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 — CABA
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $2.50 (0.41 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$2.50
Nearest expiry
Expected Move
±$0.23
±7.7%
Days to Expiry
3
Calendar days
Total Call OI
47,866
Nearest expiry
Total Put OI
864
Nearest expiry
P/C OI Ratio
0.02
Put-heavy
Spot Price
$2.91
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
$3.50
6/18/2026, 11:09:22 PM
2026-07-17
$3.00
7/17/2026, 11:04:34 PM
2026-08-21NextUpdated
$2.50
8/18/2026, 11:04:01 PM
2026-09-18
$2.00
8/18/2026, 11:04:01 PM
2026-11-20
$0.50
8/18/2026, 11:04:01 PM
2027-01-15
$3.00
8/18/2026, 11:04:01 PM
2027-02-19
$2.50
8/18/2026, 11:04:01 PM
Selected expiration: 2026-08-21 at max pain $2.50.
CABA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
197650
197650
1
4100
154900
159000
1.5
9550
112250
121800
2
17300
69850
87150
2.5
28100
27550
55650
3
1932950
9000
1941950
3.5
4154250
5450
4159700
4
6436600
2400
6439000
4.5
8745100
950
8746050
5
11056050
0
11056050
5.5
13402800
0
13402800
7.5
22792000
0
22792000
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.