This page reflects CDE 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 — CDE
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $17.00 (1.51 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$17.00
Nearest expiry
Expected Move
±$0.90
±4.9%
Days to Expiry
3
Calendar days
Total Call OI
71,727
Nearest expiry
Total Put OI
16,772
Nearest expiry
P/C OI Ratio
0.23
Put-heavy
Spot Price
$18.51
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, 11:08:27 PM
2026-08-14
$16.00
8/14/2026, 11:09:01 PM
2026-08-21NextUpdated
$17.00
8/18/2026, 11:08:08 PM
2026-08-28
$15.50
8/18/2026, 11:08:08 PM
2026-09-04
$15.50
8/18/2026, 11:08:08 PM
2026-09-11
$16.50
8/18/2026, 11:08:08 PM
2026-09-18
$17.50
8/18/2026, 11:08:08 PM
2026-09-25
$17.00
8/18/2026, 11:08:08 PM
2026-10-02
$16.50
8/18/2026, 11:08:08 PM
2026-11-20
$15.00
8/18/2026, 11:08:08 PM
2026-12-18
$17.50
8/18/2026, 11:08:08 PM
2027-01-15
$12.50
8/18/2026, 11:08:08 PM
2027-02-19
$17.50
8/18/2026, 11:08:08 PM
2027-03-19
$12.50
8/18/2026, 11:08:08 PM
2027-06-17
$7.50
8/18/2026, 11:08:08 PM
Selected expiration: 2026-08-21 at max pain $17.00.
CDE pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
2
0
22361450
22361450
2.5
13850
21522850
21536700
5
85850
17337350
17423200
6
118250
15663150
15781400
7
158750
13988950
14147700
7.5
182000
13153300
13335300
8
215400
12342600
12558000
9
306800
10726500
11033300
10
415500
9114600
9530100
11
539000
7513500
8052500
11.5
619500
6712950
7332450
12
700200
5912400
6612600
12.5
781050
5117850
5898900
13
904300
4487550
5391850
13.5
1035100
3857500
4892600
14
1166650
3260350
4427000
14.5
1304450
2663850
3968300
15
1480350
2108900
3589250
15.5
1670550
1782300
3452850
16
1874650
1463850
3338500
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.