This page reflects CDNA 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 — CDNA
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $40.00 (6.18 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$2.47
±5.4%
Days to Expiry
3
Calendar days
Total Call OI
1,086
Nearest expiry
Total Put OI
4,306
Nearest expiry
P/C OI Ratio
3.97
Put-heavy
Spot Price
$46.18
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
$20.00
6/18/2026, 11:07:18 PM
2026-07-17
$25.00
7/17/2026, 11:08:43 PM
2026-08-21NextUpdated
$40.00
8/18/2026, 11:04:14 PM
2026-09-18
$45.00
8/18/2026, 11:04:14 PM
2026-11-20
$45.00
8/18/2026, 11:04:14 PM
2027-02-19
$22.50
8/18/2026, 11:04:14 PM
Selected expiration: 2026-08-21 at max pain $40.00.
CDNA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
16023000
16023000
5
1000
14946500
14947500
7.5
2250
13870750
13873000
10
3750
12795000
12798750
12.5
5500
11722750
11728250
15
7250
10650500
10657750
17.5
9500
9578750
9588250
20
11750
8510000
8521750
22.5
19500
7442500
7462000
25
34000
6376500
6410500
30
96000
4252000
4348000
35
205500
2129500
2335000
40
336500
14500
351000
45
650000
3000
653000
50
1034000
0
1034000
55
1576000
0
1576000
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.