This page reflects CIEN 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 — CIEN
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $430.00 (24.46 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$430.00
Nearest expiry
Expected Move
±$25.55
±6.3%
Days to Expiry
3
Calendar days
Total Call OI
10,062
Nearest expiry
Total Put OI
10,961
Nearest expiry
P/C OI Ratio
1.09
Put-heavy
Spot Price
$405.54
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
$385.00
8/7/2026, 11:09:08 PM
2026-08-14
$400.00
8/14/2026, 11:07:36 PM
2026-08-21NextUpdated
$430.00
8/18/2026, 11:09:59 PM
2026-08-28
$422.50
8/18/2026, 11:09:59 PM
2026-09-04
$425.00
8/18/2026, 11:09:59 PM
2026-09-11
$440.00
8/18/2026, 11:09:59 PM
2026-09-18
$420.00
8/18/2026, 11:09:59 PM
2026-09-25
$420.00
8/18/2026, 11:09:59 PM
2026-10-02
$425.00
8/18/2026, 11:09:59 PM
2026-10-16
$450.00
8/18/2026, 11:09:59 PM
2026-12-18
$390.00
8/18/2026, 11:09:59 PM
2027-01-15
$370.00
8/18/2026, 11:09:59 PM
2027-03-19
$550.00
8/18/2026, 11:09:59 PM
2027-06-17
$480.00
8/18/2026, 11:09:59 PM
Selected expiration: 2026-08-21 at max pain $430.00.
CIEN pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
210
0
169526250
169526250
220
0
158577250
158577250
230
0
147637250
147637250
240
1000
136736250
136737250
250
19000
125920250
125939250
260
38000
115172250
115210250
270
57000
104946250
105003250
280
77000
95042250
95119250
290
99000
85483250
85582250
300
121000
76213250
76334250
305
136000
71915250
72051250
310
151000
67757750
67908750
315
166000
63628250
63794250
320
183500
59522750
59706250
325
210000
55486250
55696250
330
237500
51882250
52119750
335
288500
48461750
48750250
340
340000
45342750
45682750
345
421000
42264750
42685750
350
503000
39225750
39728750
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.