This page reflects DAL 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 — DAL
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $88.00 (2.30 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$88.00
Nearest expiry
Expected Move
±$2.24
±2.6%
Days to Expiry
3
Calendar days
Total Call OI
32,080
Nearest expiry
Total Put OI
22,279
Nearest expiry
P/C OI Ratio
0.69
Put-heavy
Spot Price
$85.70
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
$89.00
8/7/2026, 11:09:31 PM
2026-08-14
$89.00
8/14/2026, 11:11:06 PM
2026-08-21NextUpdated
$88.00
8/18/2026, 11:12:34 PM
2026-08-28
$87.00
8/18/2026, 11:12:34 PM
2026-09-04
$89.00
8/18/2026, 11:12:34 PM
2026-09-11
$89.00
8/18/2026, 11:12:34 PM
2026-09-18
$80.00
8/18/2026, 11:12:34 PM
2026-09-25
$90.00
8/18/2026, 11:12:34 PM
2026-10-02
$90.00
8/18/2026, 11:12:34 PM
2026-10-16
$92.50
8/18/2026, 11:12:34 PM
2026-11-20
$90.00
8/18/2026, 11:12:34 PM
2026-12-18
$72.50
8/18/2026, 11:12:34 PM
2027-01-15
$72.50
8/18/2026, 11:12:34 PM
2027-03-19
$77.50
8/18/2026, 11:12:34 PM
2027-06-17
$90.00
8/18/2026, 11:12:34 PM
Selected expiration: 2026-08-21 at max pain $88.00.
DAL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
45
0
83769100
83769100
50
3000
72631100
72634100
55
9500
61493100
61502600
60
18000
50355100
50373100
65
47000
39362100
39409100
70
76000
28711100
28787100
72.5
116000
23501600
23617600
73
130300
22490250
22620550
74
159200
20471850
20631050
75
188600
18454750
18643350
76
227700
16773650
17001350
77
266800
15093950
15360750
77.5
286550
14265950
14552500
78
309450
13464600
13774050
79
355450
11868300
12223750
80
402550
10286900
10689450
81
468750
8802200
9270950
82
536850
7343200
7880050
82.5
572600
6625450
7198050
83
614500
5996700
6611200
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.