This page reflects CLS 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 — CLS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $325.00 (14.41 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$325.00
Nearest expiry
Expected Move
±$16.10
±5.2%
Days to Expiry
3
Calendar days
Total Call OI
19,372
Nearest expiry
Total Put OI
8,708
Nearest expiry
P/C OI Ratio
0.45
Put-heavy
Spot Price
$310.59
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
$320.00
8/7/2026, 11:08:46 PM
2026-08-14
$325.00
8/14/2026, 11:08:47 PM
2026-08-21NextUpdated
$325.00
8/18/2026, 11:09:25 PM
2026-08-28
$320.00
8/18/2026, 11:09:25 PM
2026-09-04
$340.00
8/18/2026, 11:09:25 PM
2026-09-11
$325.00
8/18/2026, 11:09:25 PM
2026-09-18
$340.00
8/18/2026, 11:09:25 PM
2026-09-25
$330.00
8/18/2026, 11:09:25 PM
2026-10-02
$350.00
8/18/2026, 11:09:25 PM
2026-10-16
$320.00
8/18/2026, 11:09:25 PM
2026-11-20
$330.00
8/18/2026, 11:09:25 PM
2026-12-18
$310.00
8/18/2026, 11:09:25 PM
2027-01-15
$250.00
8/18/2026, 11:09:25 PM
2027-02-19
$350.00
8/18/2026, 11:09:25 PM
2027-03-19
$330.00
8/18/2026, 11:09:25 PM
2027-05-21
$320.00
8/18/2026, 11:09:25 PM
2027-06-17
$280.00
8/18/2026, 11:09:25 PM
Selected expiration: 2026-08-21 at max pain $325.00.
CLS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
180
0
97612000
97612000
185
4000
93275000
93279000
190
11000
88970500
88981500
195
19000
84696000
84715000
200
27000
80424000
80451000
210
48000
71973000
72021000
220
70000
63566000
63636000
225
82000
59448000
59530000
230
94000
55332000
55426000
235
107000
51478000
51585000
240
120500
47633500
47754000
245
135000
43863500
43998500
250
150000
40133500
40283500
255
173000
36575000
36748000
260
196000
33054500
33250500
265
232000
29690000
29922000
270
287500
26351000
26638500
272.5
318250
24819000
25137250
275
349000
23296250
23645250
277.5
380000
21830250
22210250
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.