This page reflects CAH 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 — CAH
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $230.00 (4.98 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$230.00
Nearest expiry
Expected Move
±$5.85
±2.5%
Days to Expiry
3
Calendar days
Total Call OI
4,407
Nearest expiry
Total Put OI
4,180
Nearest expiry
P/C OI Ratio
0.95
Put-heavy
Spot Price
$234.98
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
$235.00
8/7/2026, 11:08:38 PM
2026-08-14
$235.00
8/14/2026, 11:06:10 PM
2026-08-21NextUpdated
$230.00
8/18/2026, 11:07:39 PM
2026-08-28
$232.50
8/18/2026, 11:07:39 PM
2026-09-04
$230.00
8/18/2026, 11:07:39 PM
2026-09-11
$240.00
8/18/2026, 11:07:39 PM
2026-09-18
$210.00
8/18/2026, 11:07:39 PM
2026-09-25
$235.00
8/18/2026, 11:07:39 PM
2026-10-02
$220.00
8/18/2026, 11:07:39 PM
2026-12-18
$195.00
8/18/2026, 11:07:39 PM
2027-01-15
$195.00
8/18/2026, 11:07:39 PM
2027-03-19
$210.00
8/18/2026, 11:07:39 PM
2027-06-17
$230.00
8/18/2026, 11:07:39 PM
Selected expiration: 2026-08-21 at max pain $230.00.
CAH pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
155
0
27840750
27840750
160
0
25751750
25751750
175
0
19489250
19489250
180
3000
17403750
17406750
185
10500
15318750
15329250
190
18500
13235750
13254250
195
26500
11161250
11187750
200
34500
9106250
9140750
205
43500
7436250
7479750
207.5
48000
6602750
6650750
210
52500
5772500
5825000
212.5
58000
4965250
5023250
215
63500
4158750
4222250
217.5
69250
3356000
3425250
220
75000
2559500
2634500
222.5
127000
1959750
2086750
225
179000
1384750
1563750
227.5
246750
824500
1071250
230
345500
520500
866000
232.5
667000
259250
926250
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.