This page reflects CVSA 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 — CVSA
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $120.00 (11.46 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$120.00
Nearest expiry
Expected Move
±$4.30
±3.3%
Days to Expiry
3
Calendar days
Total Call OI
318
Nearest expiry
Total Put OI
169
Nearest expiry
P/C OI Ratio
0.53
Put-heavy
Spot Price
$131.46
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
$125.00
6/18/2026, 11:10:18 PM
2026-07-17
$115.00
7/17/2026, 11:07:54 PM
2026-08-21NextUpdated
$120.00
8/18/2026, 11:11:56 PM
2026-09-18
$125.00
8/18/2026, 11:11:56 PM
2026-11-20
$120.00
8/18/2026, 11:11:56 PM
2026-12-18
$105.00
8/18/2026, 11:11:56 PM
2027-02-19
$100.00
8/18/2026, 11:11:56 PM
Selected expiration: 2026-08-21 at max pain $120.00.
CVSA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
1010000
1010000
55
0
925500
925500
60
0
841000
841000
65
0
756500
756500
70
1500
672000
673500
75
3000
587500
590500
80
5500
506500
512000
85
8000
425500
433500
90
11000
345000
356000
95
14000
267500
281500
100
18000
196500
214500
105
27500
142000
169500
110
38000
91000
129000
115
53000
43000
96000
120
68000
21500
89500
125
85500
8000
93500
130
108500
500
109000
135
139000
0
139000
140
176000
0
176000
145
219000
0
219000
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.