This page reflects CXW 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 — CXW
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $29.00 (2.99 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$29.00
Nearest expiry
Expected Move
±$1.15
±3.6%
Days to Expiry
2
Calendar days
Total Call OI
50,113
Nearest expiry
Total Put OI
2,445
Nearest expiry
P/C OI Ratio
0.05
Put-heavy
Spot Price
$31.99
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
$17.00
6/18/2026, 11:13:31 PM
2026-07-17
$21.00
7/17/2026, 11:11:15 PM
2026-08-21NextUpdated
$29.00
8/19/2026, 11:11:50 PM
2026-09-18
$20.00
8/19/2026, 11:11:50 PM
2026-11-20
$25.00
8/19/2026, 11:11:50 PM
2026-12-18
$25.00
8/19/2026, 11:11:50 PM
2027-01-15
$17.00
8/19/2026, 11:11:50 PM
2027-03-19
$32.00
8/19/2026, 11:11:50 PM
Selected expiration: 2026-08-21 at max pain $29.00.
CXW pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
16
0
3959300
3959300
21
500
2736800
2737300
22
10600
2492300
2502900
23
21600
2248500
2270100
24
43900
2008200
2052100
25
72000
1768900
1840900
26
102100
1540000
1642100
27
138700
1315800
1454500
28
175900
1092600
1268500
29
219700
871500
1091200
30
1114000
654400
1768400
31
2963400
485800
3449200
32
5177100
354300
5531400
33
7772700
250600
8023300
34
10698900
172500
10871400
35
15416700
96100
15512800
36
20333800
47000
20380800
37
25266500
0
25266500
38
30265200
0
30265200
39
35265400
0
35265400
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.