This page reflects CWEN 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 — CWEN
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $35.00 (1.89 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$35.00
Nearest expiry
Expected Move
±$2.08
±6.3%
Days to Expiry
3
Calendar days
Total Call OI
2,667
Nearest expiry
Total Put OI
534
Nearest expiry
P/C OI Ratio
0.20
Put-heavy
Spot Price
$33.11
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
$40.00
6/18/2026, 11:10:01 PM
2026-07-17
$35.00
7/17/2026, 11:11:10 PM
2026-08-21NextUpdated
$35.00
8/18/2026, 11:10:41 PM
2026-09-18
$30.00
8/18/2026, 11:10:41 PM
2026-11-20
$35.00
8/18/2026, 11:10:41 PM
2026-12-18
$30.00
8/18/2026, 11:10:41 PM
2027-02-19
$30.00
8/18/2026, 11:10:41 PM
Selected expiration: 2026-08-21 at max pain $35.00.
CWEN pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
17.5
0
653500
653500
20
250
520000
520250
22.5
500
386500
387000
25
750
270000
270750
30
2250
37000
39250
35
25750
0
25750
40
302750
0
302750
45
1312750
0
1312750
50
2599750
0
2599750
55
3927250
0
3927250
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.