This page reflects CLF 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 — CLF
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $11.00 (0.88 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$11.00
Nearest expiry
Expected Move
±$0.57
±4.8%
Days to Expiry
3
Calendar days
Total Call OI
87,471
Nearest expiry
Total Put OI
38,911
Nearest expiry
P/C OI Ratio
0.44
Put-heavy
Spot Price
$11.88
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
$12.00
8/7/2026, 11:08:21 PM
2026-08-14
$12.00
8/14/2026, 11:10:55 PM
2026-08-21NextUpdated
$11.00
8/18/2026, 11:08:49 PM
2026-08-28
$11.00
8/18/2026, 11:08:49 PM
2026-09-04
$11.50
8/18/2026, 11:08:49 PM
2026-09-11
$11.00
8/18/2026, 11:08:49 PM
2026-09-18
$11.00
8/18/2026, 11:08:49 PM
2026-09-25
$11.50
8/18/2026, 11:08:49 PM
2026-10-02
$12.00
8/18/2026, 11:08:49 PM
2026-10-16
$11.00
8/18/2026, 11:08:49 PM
2026-12-18
$13.00
8/18/2026, 11:08:49 PM
2027-01-15
$10.00
8/18/2026, 11:08:49 PM
2027-03-19
$10.00
8/18/2026, 11:08:49 PM
2027-06-17
$10.00
8/18/2026, 11:08:49 PM
Selected expiration: 2026-08-21 at max pain $11.00.
CLF pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
4
0
26360350
26360350
5
1000
22469450
22470450
5.5
3150
20532350
20535500
6
5400
18595300
18600700
6.5
18550
16664100
16682650
7
31700
14733100
14764800
7.5
47450
12955850
13003300
8
64200
11330150
11394350
8.5
87000
9851200
9938200
9
110300
8376000
8486300
9.5
387750
6999350
7387100
10
668600
5632000
6300600
10.5
1129850
4425950
5555800
11
1711100
3296850
5007950
11.5
2836200
2374450
5210650
12
4314600
1644200
5958800
12.5
6402600
1108200
7510800
13
8872400
626250
9498650
13.5
11845350
212900
12058250
14
15025400
126600
15152000
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.