This page reflects CVE 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 — CVE
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $28.00 (4.52 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$28.00
Nearest expiry
Expected Move
±$0.17
±0.5%
Days to Expiry
3
Calendar days
Total Call OI
16,693
Nearest expiry
Total Put OI
8,948
Nearest expiry
P/C OI Ratio
0.54
Put-heavy
Spot Price
$32.52
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
$27.00
6/18/2026, 11:11:01 PM
2026-07-17
$27.00
7/17/2026, 11:11:15 PM
2026-08-21NextUpdated
$28.00
8/18/2026, 11:12:01 PM
2026-09-18
$25.00
8/18/2026, 11:12:01 PM
2026-10-16
$32.00
8/18/2026, 11:12:01 PM
2026-12-18
$27.00
8/18/2026, 11:12:01 PM
2027-01-15
$17.00
8/18/2026, 11:12:01 PM
2027-03-19
$25.00
8/18/2026, 11:12:01 PM
Selected expiration: 2026-08-21 at max pain $28.00.
CVE pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
17
0
7961600
7961600
18
0
7066900
7066900
19
1500
6172400
6173900
20
3200
5278400
5281600
21
6600
4384800
4391400
22
10000
3501300
3511300
23
13500
2635600
2649100
24
17200
1877000
1894200
25
48500
1378400
1426900
26
107200
1027300
1134500
27
190200
713500
903700
28
313700
443500
757200
29
612800
227400
840200
30
1134200
92400
1226600
31
1867700
10100
1877800
32
2731000
6400
2737400
33
3903400
3200
3906600
34
5330700
0
5330700
35
6864600
0
6864600
36
8405100
0
8405100
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.