This page reflects CZR 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 — CZR
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $30.00 (0.37 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$30.00
Nearest expiry
Expected Move
±$0.09
±0.3%
Days to Expiry
3
Calendar days
Total Call OI
36,690
Nearest expiry
Total Put OI
1,420
Nearest expiry
P/C OI Ratio
0.04
Put-heavy
Spot Price
$29.63
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
$30.00
8/7/2026, 11:12:38 PM
2026-08-14
$30.00
8/14/2026, 11:11:01 PM
2026-08-21NextUpdated
$30.00
8/18/2026, 11:11:43 PM
2026-08-28
$30.00
8/18/2026, 11:11:43 PM
2026-09-04
$30.00
8/18/2026, 11:11:43 PM
2026-09-11
$23.00
8/18/2026, 11:11:43 PM
2026-09-18
$29.00
8/18/2026, 11:11:43 PM
2026-09-25
$30.00
8/18/2026, 11:11:43 PM
2026-10-02
$30.00
8/18/2026, 11:11:43 PM
2026-12-18
$28.00
8/18/2026, 11:11:43 PM
2027-01-15
$28.00
8/18/2026, 11:11:43 PM
2027-03-19
$20.00
8/18/2026, 11:11:43 PM
2027-06-17
$30.00
8/18/2026, 11:11:43 PM
Selected expiration: 2026-08-21 at max pain $30.00.
CZR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
1468250
1468250
21
0
1326250
1326250
26
1000
616750
617750
27
1200
475450
476650
27.5
1300
404800
406100
28
1400
334650
336050
28.5
2150
266250
268400
29
2900
198850
201750
29.5
3800
154700
158500
30
4700
114600
119300
30.5
874050
83900
957950
31
1743600
57500
1801100
31.5
3338150
33850
3372000
32
4935300
20900
4956200
32.5
6758800
13150
6771950
33
8583300
6550
8589850
33.5
10407800
0
10407800
40
34126300
0
34126300
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.