This page reflects CPA 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 — CPA
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $140.00 (10.54 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$140.00
Nearest expiry
Expected Move
±$4.28
±3.3%
Days to Expiry
3
Calendar days
Total Call OI
2,050
Nearest expiry
Total Put OI
1,988
Nearest expiry
P/C OI Ratio
0.97
Put-heavy
Spot Price
$129.46
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
$135.00
6/18/2026, 11:08:36 PM
2026-07-17
$140.00
7/17/2026, 11:09:13 PM
2026-08-21NextUpdated
$140.00
8/18/2026, 11:08:56 PM
2026-09-18
$140.00
8/18/2026, 11:08:56 PM
2026-11-20
$135.00
8/18/2026, 11:08:56 PM
2026-12-18
$125.00
8/18/2026, 11:08:56 PM
2027-01-15
$105.00
8/18/2026, 11:08:56 PM
2027-02-19
$130.00
8/18/2026, 11:08:56 PM
Selected expiration: 2026-08-21 at max pain $140.00.
CPA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
11313000
11313000
65
0
10319500
10319500
75
0
8333500
8333500
80
0
7340500
7340500
85
0
6348000
6348000
90
0
5392500
5392500
95
0
4508000
4508000
100
0
3627000
3627000
105
500
2815500
2816000
110
1000
2154500
2155500
115
2500
1652000
1654500
120
7500
1183000
1190500
125
40000
744000
784000
130
104500
464000
568500
135
190000
271500
461500
140
299000
144000
443000
145
464500
44000
508500
150
733000
13000
746000
155
1143500
0
1143500
160
1626500
0
1626500
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.