Nearest listed expiration 2026-08-21 shows max pain at $33.00 (0.36 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$33.00
Nearest expiry
Expected Move
±$0.99
±3.0%
Days to Expiry
3
Calendar days
Total Call OI
146,295
Nearest expiry
Total Put OI
43,980
Nearest expiry
P/C OI Ratio
0.30
Put-heavy
Spot Price
$33.36
Published close
Consensus
5.0/10
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
$34.50
8/7/2026, 11:09:12 PM
2026-08-14
$33.00
8/14/2026, 11:12:18 PM
2026-08-21NextUpdated
$33.00
8/18/2026, 11:08:50 PM
2026-08-28
$33.00
8/18/2026, 11:08:50 PM
2026-09-04
$33.00
8/18/2026, 11:08:50 PM
2026-09-11
$33.00
8/18/2026, 11:08:50 PM
2026-09-18
$32.50
8/18/2026, 11:08:50 PM
2026-09-25
$33.00
8/18/2026, 11:08:50 PM
2026-10-02
$33.00
8/18/2026, 11:08:50 PM
2026-12-18
$42.00
8/18/2026, 11:08:50 PM
2027-01-15
$37.50
8/18/2026, 11:08:50 PM
2027-03-19
$37.50
8/18/2026, 11:08:50 PM
2027-06-17
$35.00
8/18/2026, 11:08:50 PM
Selected expiration: 2026-08-21 at max pain $33.00.
CMG pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
17.5
0
63569050
63569050
20
3750
52576550
52580300
21
6550
48183350
48189900
22
11250
43790150
43801400
22.5
13950
41593800
41607750
23
22800
39409150
39431950
25
59800
30676350
30736150
26
80300
26432150
26512450
27
100800
22200150
22300950
27.5
112600
20104700
20217300
28
128550
18035950
18164500
28.5
146350
15982900
16129250
29
164300
13930000
14094300
29.5
185650
11909050
12094700
30
209300
9927850
10137150
30.5
269550
8180700
8450250
31
345200
6458350
6803550
31.5
425800
4839750
5265550
32
532450
3609650
4142100
32.5
784950
2472000
3256950
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.