This page reflects CIB 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 — CIB
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $82.50 (15.15 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$82.50
Nearest expiry
Expected Move
±$1.25
±1.3%
Days to Expiry
3
Calendar days
Total Call OI
769
Nearest expiry
Total Put OI
150
Nearest expiry
P/C OI Ratio
0.20
Put-heavy
Spot Price
$97.65
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
$67.50
6/18/2026, 11:07:57 PM
2026-07-17
$75.00
7/17/2026, 11:09:29 PM
2026-08-21NextUpdated
$82.50
8/18/2026, 11:07:46 PM
2026-09-18
$90.00
8/18/2026, 11:07:46 PM
2026-11-20
$75.00
8/18/2026, 11:07:46 PM
2026-12-18
$75.00
8/18/2026, 11:07:46 PM
2027-03-19
$82.50
8/18/2026, 11:07:46 PM
2027-04-16
$65.00
8/18/2026, 11:07:46 PM
Selected expiration: 2026-08-21 at max pain $82.50.
CIB pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
65
0
206750
206750
70
0
133750
133750
72.5
0
97500
97500
75
0
61500
61500
77.5
0
39000
39000
80
750
19500
20250
82.5
2500
13500
16000
85
44750
8250
53000
87.5
111750
3000
114750
90
191500
500
192000
92.5
347500
0
347500
95
505000
0
505000
97.5
670750
0
670750
100
837500
0
837500
105
1172500
0
1172500
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.