This page reflects CB 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 — CB
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $340.00 (5.29 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$340.00
Nearest expiry
Expected Move
±$5.75
±1.7%
Days to Expiry
3
Calendar days
Total Call OI
9,363
Nearest expiry
Total Put OI
3,403
Nearest expiry
P/C OI Ratio
0.36
Put-heavy
Spot Price
$345.29
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
$325.00
6/18/2026, 11:10:22 PM
2026-07-17
$320.00
7/17/2026, 11:09:07 PM
2026-08-21NextUpdated
$340.00
8/18/2026, 11:08:05 PM
2026-09-18
$335.00
8/18/2026, 11:08:05 PM
2026-10-16
$350.00
8/18/2026, 11:08:05 PM
2026-11-20
$340.00
8/18/2026, 11:08:05 PM
2026-12-18
$340.00
8/18/2026, 11:08:05 PM
2027-01-15
$330.00
8/18/2026, 11:08:05 PM
2027-02-19
$305.00
8/18/2026, 11:08:05 PM
2027-03-19
$340.00
8/18/2026, 11:08:05 PM
2027-06-17
$330.00
8/18/2026, 11:08:05 PM
Selected expiration: 2026-08-21 at max pain $340.00.
CB pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
210
0
35185000
35185000
215
0
33486000
33486000
220
0
31792500
31792500
225
0
30101500
30101500
230
0
28410500
28410500
235
0
26726500
26726500
240
0
25051500
25051500
245
0
23381500
23381500
250
1000
21796500
21797500
255
2000
20218000
20220000
260
3000
18645500
18648500
265
5000
17082500
17087500
270
7000
15523000
15530000
275
12000
13984000
13996000
280
17000
12532500
12549500
285
22000
11092500
11114500
290
30000
9697500
9727500
295
51500
8334500
8386000
300
73000
7023000
7096000
305
105000
5854500
5959500
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.