This page reflects CELH 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 — CELH
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $28.00 (1.90 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$28.00
Nearest expiry
Expected Move
±$1.29
±4.3%
Days to Expiry
3
Calendar days
Total Call OI
33,894
Nearest expiry
Total Put OI
22,620
Nearest expiry
P/C OI Ratio
0.67
Put-heavy
Spot Price
$29.90
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
$28.50
8/7/2026, 11:07:15 PM
2026-08-14
$26.00
8/14/2026, 11:09:02 PM
2026-08-21NextUpdated
$28.00
8/18/2026, 11:08:40 PM
2026-08-28
$28.00
8/18/2026, 11:08:40 PM
2026-09-04
$27.00
8/18/2026, 11:08:40 PM
2026-09-11
$27.00
8/18/2026, 11:08:40 PM
2026-09-18
$30.00
8/18/2026, 11:08:40 PM
2026-09-25
$27.00
8/18/2026, 11:08:40 PM
2026-10-02
$30.00
8/18/2026, 11:08:40 PM
2026-10-16
$30.00
8/18/2026, 11:08:40 PM
2026-12-18
$32.50
8/18/2026, 11:08:40 PM
2027-01-15
$35.00
8/18/2026, 11:08:40 PM
2027-03-19
$30.00
8/18/2026, 11:08:40 PM
2027-04-16
$30.00
8/18/2026, 11:08:40 PM
2027-06-17
$32.50
8/18/2026, 11:08:40 PM
Selected expiration: 2026-08-21 at max pain $28.00.
CELH pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
12
0
31498450
31498450
14
2200
26974450
26976650
15
4900
24712450
24717350
17.5
15900
19060450
19076350
19
22500
15719950
15742450
20
26900
13495050
13521950
21
33000
11394850
11427850
21.5
36150
10355100
10391250
22
39400
9315500
9354900
22.5
42800
8314400
8357200
23
79900
7376150
7456050
23.5
119950
6454000
6573950
24
160800
5538100
5698900
24.5
214900
4718850
4933750
25
273800
3906500
4180300
25.5
348300
3263950
3612250
26
426500
2642650
3069150
26.5
518500
2128900
2647400
27
615700
1644100
2259800
27.5
760550
1212150
1972700
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.