This page reflects CPRI 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 — CPRI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $17.50 (3.08 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$17.50
Nearest expiry
Expected Move
±$0.70
±4.8%
Days to Expiry
3
Calendar days
Total Call OI
18,751
Nearest expiry
Total Put OI
3,955
Nearest expiry
P/C OI Ratio
0.21
Put-heavy
Spot Price
$14.42
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
$20.00
6/18/2026, 11:10:23 PM
2026-07-17
$17.50
7/17/2026, 11:10:41 PM
2026-08-21NextUpdated
$17.50
8/18/2026, 11:09:31 PM
2026-09-18
$15.00
8/18/2026, 11:09:31 PM
2026-11-20
$15.00
8/18/2026, 11:09:31 PM
2026-12-18
$17.50
8/18/2026, 11:09:31 PM
2027-01-15
$17.50
8/18/2026, 11:09:31 PM
2027-02-19
$15.00
8/18/2026, 11:09:31 PM
Selected expiration: 2026-08-21 at max pain $17.50.
CPRI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
7.5
0
2744500
2744500
10
500
1756000
1756500
12.5
1750
974500
976250
15
6000
376000
382000
17.5
172250
112750
285000
20
576500
46750
623250
22.5
3916500
0
3916500
25
7621500
0
7621500
27.5
11825500
0
11825500
30
16182500
0
16182500
32.5
20743750
0
20743750
35
25395500
0
25395500
37.5
30069000
0
30069000
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.