This page reflects DBX 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 — DBX
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $30.00 (3.87 below 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
±$1.27
±3.8%
Days to Expiry
3
Calendar days
Total Call OI
4,720
Nearest expiry
Total Put OI
2,903
Nearest expiry
P/C OI Ratio
0.62
Put-heavy
Spot Price
$33.87
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
$32.00
8/7/2026, 11:12:58 PM
2026-08-14
$28.50
8/14/2026, 11:08:44 PM
2026-08-21NextUpdated
$30.00
8/18/2026, 11:10:04 PM
2026-08-28
$30.00
8/18/2026, 11:10:04 PM
2026-09-04
$30.00
8/18/2026, 11:10:04 PM
2026-09-11
$35.00
8/18/2026, 11:10:04 PM
2026-09-18
$33.00
8/18/2026, 11:10:04 PM
2026-09-25
$35.00
8/18/2026, 11:10:04 PM
2026-10-02
$35.00
8/18/2026, 11:10:04 PM
2026-10-16
$31.00
8/18/2026, 11:10:04 PM
2027-01-15
$25.00
8/18/2026, 11:10:04 PM
Selected expiration: 2026-08-21 at max pain $30.00.
DBX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
4386500
4386500
18
0
3512900
3512900
20
400
2930500
2930900
21
600
2639600
2640200
22
800
2348900
2349700
23
1800
2058300
2060100
25
3800
1477300
1481100
25.5
4300
1332350
1336650
26
4800
1187450
1192250
26.5
5400
1056100
1061500
27
6000
924800
930800
27.5
12450
793550
806000
28
19000
662450
681450
29
38100
404150
442250
30
62500
146150
208650
31
308400
96350
404750
31.5
439100
76800
515900
32
569950
57250
627200
32.5
706550
40450
747000
33
843150
23800
866950
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.