This page reflects CAG 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 — CAG
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $15.00 (0.52 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$15.00
Nearest expiry
Expected Move
±$0.35
±2.3%
Days to Expiry
3
Calendar days
Total Call OI
11,485
Nearest expiry
Total Put OI
9,204
Nearest expiry
P/C OI Ratio
0.80
Put-heavy
Spot Price
$15.52
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
$15.00
8/7/2026, 11:03:51 PM
2026-08-14
$14.50
8/14/2026, 11:09:21 PM
2026-08-21NextUpdated
$15.00
8/18/2026, 11:07:19 PM
2026-08-28
$14.50
8/18/2026, 11:07:19 PM
2026-09-04
$15.00
8/18/2026, 11:07:19 PM
2026-09-11
$15.00
8/18/2026, 11:07:19 PM
2026-09-18
$15.00
8/18/2026, 11:07:19 PM
2026-09-25
$15.00
8/18/2026, 11:07:19 PM
2026-10-02
$14.50
8/18/2026, 11:07:19 PM
2026-12-18
$14.00
8/18/2026, 11:07:19 PM
2027-01-15
$15.00
8/18/2026, 11:07:19 PM
2027-03-19
$15.00
8/18/2026, 11:07:19 PM
Selected expiration: 2026-08-21 at max pain $15.00.
CAG pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
6
0
6951300
6951300
7
200
6030900
6031100
8
500
5110500
5111000
9
900
4190100
4191000
9.5
1200
3729900
3731100
10
1500
3269700
3271200
10.5
2000
2809800
2811800
11
2500
2349900
2352400
11.5
3500
1893300
1896800
12
4500
1437250
1441750
12.5
5700
1086650
1092350
13
6900
736150
743050
13.5
11700
501850
513550
14
16550
279300
295850
14.5
33500
120850
154350
15
56850
49300
106150
15.5
362950
22600
385550
16
764050
4450
768500
16.5
1303650
2900
1306550
17
1848050
2350
1850400
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.