This page reflects CRBG 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 — CRBG
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $32.00 (1.12 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$32.00
Nearest expiry
Expected Move
±$0.83
±2.5%
Days to Expiry
3
Calendar days
Total Call OI
261
Nearest expiry
Total Put OI
289
Nearest expiry
P/C OI Ratio
1.11
Put-heavy
Spot Price
$33.12
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
$28.00
6/18/2026, 11:09:00 PM
2026-07-17
$28.00
7/17/2026, 11:11:48 PM
2026-08-21NextUpdated
$32.00
8/18/2026, 11:09:34 PM
2026-09-18
$32.00
8/18/2026, 11:09:34 PM
2026-10-16
$27.00
8/18/2026, 11:09:34 PM
2027-01-15
$23.00
8/18/2026, 11:09:34 PM
Selected expiration: 2026-08-21 at max pain $32.00.
CRBG pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
137100
137100
26
0
112300
112300
27
0
88000
88000
28
0
65300
65300
29
100
46200
46300
30
900
31600
32500
31
3600
22200
25800
32
8000
14400
22400
33
19600
7000
26600
34
40900
0
40900
35
63600
0
63600
36
89100
0
89100
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.