This page reflects CGON 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 — CGON
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $70.00 (6.29 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$70.00
Nearest expiry
Expected Move
±$4.70
±6.2%
Days to Expiry
3
Calendar days
Total Call OI
5,520
Nearest expiry
Total Put OI
2,392
Nearest expiry
P/C OI Ratio
0.43
Put-heavy
Spot Price
$76.29
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
$55.00
6/18/2026, 11:09:22 PM
2026-07-17
$60.00
7/17/2026, 11:09:53 PM
2026-08-21NextUpdated
$70.00
8/18/2026, 11:08:04 PM
2026-09-18
$70.00
8/18/2026, 11:08:04 PM
2026-10-16
$60.00
8/18/2026, 11:08:04 PM
2027-01-15
$70.00
8/18/2026, 11:08:04 PM
Selected expiration: 2026-08-21 at max pain $70.00.
CGON pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
45
0
5464500
5464500
50
0
4280000
4280000
55
1500
3114500
3116000
60
11000
1972500
1983500
65
40000
866500
906500
70
232500
79000
311500
75
1031000
0
1031000
80
2554500
0
2554500
85
5095500
0
5095500
90
7677000
0
7677000
95
10387500
0
10387500
100
13143500
0
13143500
105
15902500
0
15902500
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.