This page reflects CIFR options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 17, 2026 close
Max Pain — CIFR
Data as of market close Aug 17, 2026
Nearest listed expiration 2026-08-21 shows max pain at $18.50 (0.00 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$18.50
Nearest expiry
Expected Move
±$1.79
±9.7%
Days to Expiry
4
Calendar days
Total Call OI
220,901
Nearest expiry
Total Put OI
55,680
Nearest expiry
P/C OI Ratio
0.25
Put-heavy
Spot Price
$18.50
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
$20.00
8/7/2026, 11:09:31 PM
2026-08-14
$18.00
8/14/2026, 11:10:34 PM
2026-08-21NextUpdated
$18.50
8/17/2026, 11:09:24 PM
2026-08-28
$18.50
8/17/2026, 11:09:24 PM
2026-09-04
$17.00
8/17/2026, 11:09:24 PM
2026-09-11
$18.00
8/17/2026, 11:09:24 PM
2026-09-18
$19.00
8/17/2026, 11:09:24 PM
2026-09-25
$18.00
8/17/2026, 11:09:24 PM
2026-10-02
$16.50
8/17/2026, 11:09:24 PM
2026-10-16
$22.00
8/17/2026, 11:09:24 PM
2026-11-20
$18.00
8/17/2026, 11:09:24 PM
2026-12-18
$15.00
8/17/2026, 11:09:24 PM
2027-01-15
$15.00
8/17/2026, 11:09:24 PM
2027-03-19
$19.00
8/17/2026, 11:09:24 PM
Selected expiration: 2026-08-21 at max pain $18.50.
CIFR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
94880500
94880500
2
18700
89312500
89331200
3
39800
83744500
83784300
4
63400
78176500
78239900
5
87100
72608500
72695600
6
111300
67040500
67151800
7
136100
61472700
61608800
8
174400
55914900
56089300
9
226500
50357300
50583800
10
278900
44800000
45078900
11
331500
39258800
39590300
11.5
358000
36496000
36854000
12
384650
33733200
34117850
12.5
412100
30991350
31403450
13
439650
28252050
28691700
13.5
467450
25547100
26014550
14
495400
22852400
23347800
14.5
526350
20234950
20761300
15
557800
17665400
18223200
15.5
596550
15228500
15825050
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.