This page reflects CVE options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 19, 2026 close
Max Pain — CVE
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $28.00 (4.48 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
±$1.00
±3.1%
Days to Expiry
2
Calendar days
Total Call OI
16,372
Nearest expiry
Total Put OI
8,744
Nearest expiry
P/C OI Ratio
0.53
Put-heavy
Spot Price
$32.48
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
8/19/2026, 11:09:47 PM
2026-09-18
$25.00
8/19/2026, 11:09:47 PM
2026-10-16
$32.00
8/19/2026, 11:09:47 PM
2026-12-18
$28.00
8/19/2026, 11:09:47 PM
2027-01-15
$17.00
8/19/2026, 11:09:47 PM
2027-03-19
$25.00
8/19/2026, 11:09:47 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
7686300
7686300
18
0
6812000
6812000
19
1500
5937900
5939400
20
3200
5064300
5067500
21
6600
4191100
4197700
22
10000
3328000
3338000
23
13500
2482700
2496200
24
17200
1744500
1761700
25
48500
1266300
1314800
26
107200
935600
1042800
27
190200
642200
832400
28
313500
392600
706100
29
612400
195900
808300
30
1130600
78400
1209000
31
1859300
11000
1870300
32
2715700
6800
2722500
33
3857200
3400
3860600
34
5251400
0
5251400
35
6753200
0
6753200
36
8261600
0
8261600
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.