What is CHWY max pain this week?

CHWY max pain for the nearest expiration (2026-08-21) is $22.00. Total call open interest: 32,481. Total put open interest: 16,926.

What is max pain in options?

Max pain is the strike price where option holders (buyers of both puts and calls) would collectively lose the most money at expiration. It represents the point of maximum financial pain for option buyers, and theory suggests stock prices tend to gravitate toward max pain as expiration approaches.

Home Options CHWYMax Pain

CHWY

Chewy, Inc.Close $23.04EOD only

Max Pain

$22.00

Next expiry Aug 21, 2026

Expected Move

±$0.94

4.1% from close

Price Gap

-1.04

Distance to max pain

IV Rank

Low premium

P/C OI

0.73

Slightly call-heavy

Consensus

4/4

Partial coverage

Published snapshot: Aug 18, 2026 close

End-of-day snapshot

This page reflects CHWY 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 — CHWY

Data as of market close Aug 18, 2026

Open Available Reports (4/4)

Nearest listed expiration 2026-08-21 shows max pain at $22.00 (1.04 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike

$22.00

Nearest expiry

Expected Move

±$0.94

±4.1%

Days to Expiry

Calendar days

Total Call OI

32,481

Nearest expiry

Total Put OI

16,926

Nearest expiry

P/C OI Ratio

0.52

Put-heavy

Spot Price

$23.04

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	$22.00	8/7/2026, 11:08:54 PM
2026-08-14	$23.00	8/14/2026, 11:04:10 PM
2026-08-21NextUpdated	$22.00	8/18/2026, 11:07:46 PM
2026-08-28	$22.50	8/18/2026, 11:07:46 PM
2026-09-04	$22.50	8/18/2026, 11:07:46 PM
2026-09-11	$22.00	8/18/2026, 11:07:46 PM
2026-09-18	$20.00	8/18/2026, 11:07:46 PM
2026-09-25	$23.00	8/18/2026, 11:07:46 PM
2026-10-02	$21.50	8/18/2026, 11:07:46 PM
2026-10-16	$20.00	8/18/2026, 11:07:46 PM
2026-11-20	$22.50	8/18/2026, 11:07:46 PM
2026-12-18	$22.50	8/18/2026, 11:07:46 PM
2027-01-15	$25.00	8/18/2026, 11:07:46 PM
2027-03-19	$17.50	8/18/2026, 11:07:46 PM

Selected expiration: 2026-08-21 at max pain $22.00.

CHWY pain by strike for 2026-08-21 expiration
Strike	Call Pain	Put Pain	Total Pain
7.5	0	22564550	22564550
10	750	18333800	18334550
12	4750	14957000	14961750
12.5	5950	14112800	14118750
13	8550	13276900	13285450
15	19550	9933700	9953250
16	26150	8325600	8351750
17	32850	6722300	6755150
17.5	36500	5924950	5961450
18	88850	5223600	5312450
18.5	141800	4526150	4667950
19	194900	3834850	4029750
19.5	252700	3150250	3402950
20	310900	2474950	2785850
20.5	548950	1934900	2483850
21	792850	1495700	2288550
21.5	1045550	1127150	2172700
22	1327100	807600	2134700
22.5	1638450	518400	2156850
23	2128650	354750	2483400

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.