This page reflects CI 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 — CI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $280.00 (1.50 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$280.00
Nearest expiry
Expected Move
±$5.88
±2.1%
Days to Expiry
3
Calendar days
Total Call OI
5,474
Nearest expiry
Total Put OI
2,996
Nearest expiry
P/C OI Ratio
0.55
Put-heavy
Spot Price
$278.50
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
$280.00
8/7/2026, 11:09:44 PM
2026-08-14
$277.50
8/14/2026, 11:07:27 PM
2026-08-21NextUpdated
$280.00
8/18/2026, 11:03:42 PM
2026-08-28
$277.50
8/18/2026, 11:03:42 PM
2026-09-04
$260.00
8/18/2026, 11:03:42 PM
2026-09-11
$275.00
8/18/2026, 11:03:42 PM
2026-09-18
$270.00
8/18/2026, 11:03:42 PM
2026-09-25
$270.00
8/18/2026, 11:03:42 PM
2026-10-02
$265.00
8/18/2026, 11:03:42 PM
2026-10-16
$310.00
8/18/2026, 11:03:42 PM
2026-12-18
$270.00
8/18/2026, 11:03:42 PM
2027-01-15
$260.00
8/18/2026, 11:03:42 PM
2027-03-19
$280.00
8/18/2026, 11:03:42 PM
2027-06-17
$270.00
8/18/2026, 11:03:42 PM
Selected expiration: 2026-08-21 at max pain $280.00.
CI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
175
0
26919750
26919750
180
5500
25429250
25434750
185
28000
23953750
23981750
190
65500
22491750
22557250
195
114500
21042250
21156750
200
176000
19605750
19781750
210
320000
16753750
17073750
215
403000
15338250
15741250
220
486000
13925250
14411250
230
664000
11113250
11777250
235
753500
9795250
10548750
240
845000
8477750
9322750
245
937000
7196250
8133250
250
1029000
5924750
6953750
255
1124500
4765750
5890250
257.5
1172250
4194250
5366500
260
1220000
3625750
4845750
262.5
1282750
3144500
4427250
265
1345500
2671000
4016500
267.5
1408500
2210000
3618500
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.