This page reflects CACI 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 — CACI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $480.00 (176.06 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$480.00
Nearest expiry
Expected Move
±$17.30
±2.6%
Days to Expiry
3
Calendar days
Total Call OI
738
Nearest expiry
Total Put OI
334
Nearest expiry
P/C OI Ratio
0.45
Put-heavy
Spot Price
$656.06
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
$510.00
6/18/2026, 11:08:12 PM
2026-07-17
$470.00
7/17/2026, 11:09:27 PM
2026-08-21NextUpdated
$480.00
8/18/2026, 11:07:12 PM
2026-09-18
$590.00
8/18/2026, 11:07:12 PM
2026-12-18
$430.00
8/18/2026, 11:07:12 PM
2027-03-19
$550.00
8/18/2026, 11:07:12 PM
Selected expiration: 2026-08-21 at max pain $480.00.
CACI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
340
0
5731000
5731000
350
0
5397000
5397000
360
1000
5066000
5067000
370
2000
4740000
4742000
380
3000
4414000
4417000
390
4000
4089000
4093000
400
5000
3769000
3774000
410
6000
3462000
3468000
420
8000
3163000
3171000
430
99000
2866000
2965000
440
190000
2595000
2785000
450
287000
2334000
2621000
460
387000
2095000
2482000
470
491000
1862000
2353000
480
645000
1648000
2293000
490
862000
1471000
2333000
500
1135000
1318000
2453000
510
1440000
1189000
2629000
520
1805000
1076000
2881000
530
2222000
963000
3185000
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.