This page reflects CNR 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 — CNR
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $80.00 (12.03 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$80.00
Nearest expiry
Expected Move
±$3.58
±3.9%
Days to Expiry
3
Calendar days
Total Call OI
2,993
Nearest expiry
Total Put OI
2,517
Nearest expiry
P/C OI Ratio
0.84
Put-heavy
Spot Price
$92.03
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
2026-06-18
$80.00
6/18/2026, 11:09:57 PM
2026-07-17
$85.00
7/17/2026, 11:08:55 PM
2026-08-21NextUpdated
$80.00
8/18/2026, 11:09:32 PM
2026-09-18
$90.00
8/18/2026, 11:09:32 PM
2026-12-18
$90.00
8/18/2026, 11:09:32 PM
2027-03-19
$80.00
8/18/2026, 11:09:32 PM
Selected expiration: 2026-08-21 at max pain $80.00.
CNR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
6832500
6832500
60
0
4315500
4315500
65
0
3057000
3057000
70
0
1839500
1839500
75
500
635000
635500
80
6000
98500
104500
85
77500
45000
122500
90
619000
19500
638500
95
1437000
5000
1442000
100
2387500
0
2387500
105
3862000
0
3862000
110
5350000
0
5350000
115
6840000
0
6840000
125
9831000
0
9831000
130
11327000
0
11327000
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.