This page reflects CPAY 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 — CPAY
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $350.00 (56.82 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$350.00
Nearest expiry
Expected Move
±$10.35
±2.5%
Days to Expiry
3
Calendar days
Total Call OI
797
Nearest expiry
Total Put OI
788
Nearest expiry
P/C OI Ratio
0.99
Put-heavy
Spot Price
$406.82
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
$350.00
6/18/2026, 11:08:32 PM
2026-07-17
$360.00
7/17/2026, 11:08:43 PM
2026-08-21NextUpdated
$350.00
8/18/2026, 11:09:22 PM
2026-09-18
$400.00
8/18/2026, 11:09:22 PM
2026-11-20
$370.00
8/18/2026, 11:09:22 PM
2027-01-15
$320.00
8/18/2026, 11:09:22 PM
2027-02-19
$330.00
8/18/2026, 11:09:22 PM
Selected expiration: 2026-08-21 at max pain $350.00.
CPAY pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
155
0
13328000
13328000
160
0
12934500
12934500
165
0
12541500
12541500
180
0
11364000
11364000
190
0
10579000
10579000
195
0
10187000
10187000
200
0
9796000
9796000
210
0
9017000
9017000
220
0
8242000
8242000
230
0
7468000
7468000
240
0
6694000
6694000
250
0
5924000
5924000
260
0
5346000
5346000
270
0
4800000
4800000
280
0
4254000
4254000
290
0
3714000
3714000
300
0
3175000
3175000
310
89000
2638000
2727000
320
179000
2101000
2280000
330
274000
1564000
1838000
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.