This page reflects CVS 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 — CVS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $97.00 (2.09 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$97.00
Nearest expiry
Expected Move
±$1.88
±2.0%
Days to Expiry
3
Calendar days
Total Call OI
48,306
Nearest expiry
Total Put OI
25,000
Nearest expiry
P/C OI Ratio
0.52
Put-heavy
Spot Price
$94.91
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
2026-08-07
$99.00
8/7/2026, 11:09:26 PM
2026-08-14
$95.00
8/14/2026, 11:08:57 PM
2026-08-21NextUpdated
$97.00
8/18/2026, 11:10:03 PM
2026-08-28
$97.00
8/18/2026, 11:10:03 PM
2026-09-04
$97.00
8/18/2026, 11:10:03 PM
2026-09-11
$96.00
8/18/2026, 11:10:03 PM
2026-09-18
$95.00
8/18/2026, 11:10:03 PM
2026-09-25
$95.00
8/18/2026, 11:10:03 PM
2026-10-02
$97.00
8/18/2026, 11:10:03 PM
2026-11-20
$95.00
8/18/2026, 11:10:03 PM
2026-12-18
$75.00
8/18/2026, 11:10:03 PM
2027-01-15
$72.50
8/18/2026, 11:10:03 PM
2027-02-19
$90.00
8/18/2026, 11:10:03 PM
2027-03-19
$90.00
8/18/2026, 11:10:03 PM
2027-06-17
$100.00
8/18/2026, 11:10:03 PM
Selected expiration: 2026-08-21 at max pain $97.00.
CVS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
42.5
0
108438050
108438050
45
500
102198300
102198800
47.5
1750
95975550
95977300
50
3000
89771550
89774550
55
10500
77393550
77404050
60
19500
65105050
65124550
62.5
24250
59029300
59053550
65
29000
52981300
53010300
67.5
36000
47121800
47157800
70
45250
41388800
41434050
72.5
77500
36583550
36661050
75
113000
31893800
32006800
77.5
159750
27336550
27496300
80
216500
22912300
23128800
82.5
284750
18636300
18921050
85
353500
14714800
15068300
86
392100
13228400
13620500
87
430700
11743000
12173700
87.5
450000
11000850
11450850
88
474650
10300450
10775100
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.