This page reflects DB 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 — DB
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $35.00 (3.09 below 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
±$0.80
±2.1%
Days to Expiry
3
Calendar days
Total Call OI
8,494
Nearest expiry
Total Put OI
5,056
Nearest expiry
P/C OI Ratio
0.60
Put-heavy
Spot Price
$38.09
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
$32.00
6/18/2026, 11:11:39 PM
2026-07-17
$35.00
7/17/2026, 11:10:59 PM
2026-08-21NextUpdated
$35.00
8/18/2026, 11:10:48 PM
2026-09-18
$35.00
8/18/2026, 11:10:48 PM
2026-10-16
$33.00
8/18/2026, 11:10:48 PM
2027-01-15
$33.00
8/18/2026, 11:10:48 PM
Selected expiration: 2026-08-21 at max pain $35.00.
DB pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
3982300
3982300
27
400
3054700
3055100
28
600
2591000
2591600
29
800
2129000
2129800
30
1000
1691600
1692600
31
4600
1275000
1279600
32
8200
889300
897500
33
16700
618800
635500
34
27200
398600
425800
35
129300
266400
395700
36
343700
151200
494900
37
595900
78600
674500
38
869800
38800
908600
39
1208900
28500
1237400
40
1761300
19000
1780300
41
2588100
9500
2597600
42
3428700
0
3428700
43
4277700
0
4277700
45
5976300
0
5976300
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.