This page reflects CEVA 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 — CEVA
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $35.00 (5.33 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$35.00
Nearest expiry
Expected Move
±$1.93
±6.5%
Days to Expiry
3
Calendar days
Total Call OI
5,495
Nearest expiry
Total Put OI
2,208
Nearest expiry
P/C OI Ratio
0.40
Put-heavy
Spot Price
$29.67
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
$35.00
6/18/2026, 11:10:40 PM
2026-07-17
$45.00
7/17/2026, 11:09:39 PM
2026-08-21NextUpdated
$35.00
8/18/2026, 11:08:05 PM
2026-09-18
$35.00
8/18/2026, 11:08:05 PM
2026-11-20
$35.00
8/18/2026, 11:08:05 PM
2026-12-18
$30.00
8/18/2026, 11:08:05 PM
2027-03-19
$30.00
8/18/2026, 11:08:05 PM
Selected expiration: 2026-08-21 at max pain $35.00.
CEVA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
17.5
0
3565500
3565500
20
0
3019250
3019250
22.5
0
2480000
2480000
25
0
1951500
1951500
30
1000
1032500
1033500
35
89000
314500
403500
40
420500
20000
440500
45
925000
0
925000
50
2263500
0
2263500
55
3904000
0
3904000
60
5799500
0
5799500
65
7776500
0
7776500
70
9812500
0
9812500
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.