This page reflects DAC 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 — DAC
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $135.00 (10.30 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$135.00
Nearest expiry
Expected Move
±$3.10
±2.1%
Days to Expiry
3
Calendar days
Total Call OI
1,248
Nearest expiry
Total Put OI
740
Nearest expiry
P/C OI Ratio
0.59
Put-heavy
Spot Price
$145.30
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
$130.00
6/18/2026, 11:09:14 PM
2026-07-17
$125.00
7/17/2026, 11:12:24 PM
2026-08-21NextUpdated
$135.00
8/18/2026, 11:10:18 PM
2026-09-18
$140.00
8/18/2026, 11:10:18 PM
2026-10-16
$130.00
8/18/2026, 11:10:18 PM
2026-11-20
$115.00
8/18/2026, 11:10:18 PM
2026-12-18
$110.00
8/18/2026, 11:10:18 PM
2027-01-15
$120.00
8/18/2026, 11:10:18 PM
2027-02-19
$105.00
8/18/2026, 11:10:18 PM
2027-03-19
$100.00
8/18/2026, 11:10:18 PM
Selected expiration: 2026-08-21 at max pain $135.00.
DAC pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
80
0
3187000
3187000
100
0
1709000
1709000
105
0
1341000
1341000
110
0
983500
983500
115
0
631500
631500
120
1000
378000
379000
125
3500
239500
243000
130
8000
120000
128000
135
70500
7500
78000
140
266500
3000
269500
145
719000
1000
720000
150
1202500
500
1203000
155
1823000
0
1823000
160
2446500
0
2446500
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.