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COP

ConocoPhillipsClose $129.72EOD only
Max Pain
$124.00
Next expiry Aug 21, 2026
Expected Move
±$2.92
2.3% from close
Price Gap
-5.72
Distance to max pain
IV Rank
14
Low premium
P/C OI
0.82
Slightly call-heavy
Consensus
4/4
Partial coverage
Published snapshot: Aug 18, 2026 close
End-of-day snapshot

This page reflects COP 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 — COP
Data as of market close Aug 18, 2026
Open Available Reports (4/4)

Nearest listed expiration 2026-08-21 shows max pain at $124.00 (5.72 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike
$124.00
Nearest expiry
Expected Move
±$2.92
±2.3%
Days to Expiry
3
Calendar days
Total Call OI
18,566
Nearest expiry
Total Put OI
18,576
Nearest expiry
P/C OI Ratio
1.00
Put-heavy
Spot Price
$129.72
Published close
Consensus
-
Open report for full read

Max Pain by Expiration

Pain by Strike

Drill into expiration
Selected: 2026-08-21
ExpirationMax Pain StrikeLast Updated
2026-08-07$114.008/7/2026, 11:09:29 PM
2026-08-14$115.008/14/2026, 11:08:21 PM
2026-08-21NextUpdated$124.008/18/2026, 11:08:26 PM
2026-08-28$122.008/18/2026, 11:08:26 PM
2026-09-04$118.008/18/2026, 11:08:26 PM
2026-09-11$120.008/18/2026, 11:08:26 PM
2026-09-18$115.008/18/2026, 11:08:26 PM
2026-09-25$120.008/18/2026, 11:08:26 PM
2026-10-02$122.008/18/2026, 11:08:26 PM
2026-10-16$120.008/18/2026, 11:08:26 PM
2026-11-20$110.008/18/2026, 11:08:26 PM
2026-12-18$115.008/18/2026, 11:08:26 PM
2027-01-15$105.008/18/2026, 11:08:26 PM
2027-02-19$115.008/18/2026, 11:08:26 PM
2027-03-19$120.008/18/2026, 11:08:26 PM
2027-06-17$115.008/18/2026, 11:08:26 PM
Selected expiration: 2026-08-21 at max pain $124.00.
COP pain by strike for 2026-08-21 expiration
StrikeCall PainPut PainTotal Pain
5509738665097386650
605008811965088120150
6520007888465078886650
7035006966765069671150
7555006051215060517650
8075005141465051422150
85115004234715042358650
87.5135003782365037837150
90157503335215033367900
92.5180002896890028986900
95202502475365024773900
97.5225002074040020762900
100247501687890016903650
101270501546640015493450
102293501405540014084750
103318501264530012677150
104346501123760011272250
1053775098313009869050
1064345087703008813750
1074915077135007762650
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.