This page reflects DCO 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 — DCO
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $190.00 (14.27 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$190.00
Nearest expiry
Expected Move
±$8.30
±4.1%
Days to Expiry
3
Calendar days
Total Call OI
76
Nearest expiry
Total Put OI
92
Nearest expiry
P/C OI Ratio
1.21
Put-heavy
Spot Price
$204.27
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
$105.00
6/18/2026, 11:10:36 PM
2026-07-17
$165.00
7/17/2026, 11:12:56 PM
2026-08-21NextUpdated
$190.00
8/18/2026, 11:12:30 PM
2026-09-18
$180.00
8/18/2026, 11:12:30 PM
2026-11-20
$180.00
8/18/2026, 11:12:30 PM
2026-12-18
$145.00
8/18/2026, 11:12:30 PM
2027-03-19
$85.00
8/18/2026, 11:12:30 PM
Selected expiration: 2026-08-21 at max pain $190.00.
DCO pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
125
0
396500
396500
130
0
352500
352500
135
0
309000
309000
140
0
266000
266000
145
0
224500
224500
150
0
183500
183500
155
0
154000
154000
160
0
126000
126000
170
0
71000
71000
175
500
44000
44500
180
1500
30000
31500
185
3000
16000
19000
190
5000
2000
7000
195
16500
1000
17500
200
34000
0
34000
210
77000
0
77000
220
148000
0
148000
230
223000
0
223000
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.