This page reflects DLR 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 — DLR
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $187.50 (7.75 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$187.50
Nearest expiry
Expected Move
±$4.03
±2.1%
Days to Expiry
3
Calendar days
Total Call OI
3,142
Nearest expiry
Total Put OI
2,603
Nearest expiry
P/C OI Ratio
0.83
Put-heavy
Spot Price
$195.25
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
$190.00
8/7/2026, 11:11:06 PM
2026-08-14
$192.50
8/14/2026, 11:11:48 PM
2026-08-21NextUpdated
$187.50
8/18/2026, 11:11:09 PM
2026-08-28
$195.00
8/18/2026, 11:11:09 PM
2026-09-04
$185.00
8/18/2026, 11:11:09 PM
2026-09-11
$125.00
8/18/2026, 11:11:09 PM
2026-09-18
$185.00
8/18/2026, 11:11:09 PM
2026-09-25
$175.00
8/18/2026, 11:11:09 PM
2026-10-16
$190.00
8/18/2026, 11:11:09 PM
2026-12-18
$170.00
8/18/2026, 11:11:09 PM
2027-01-15
$180.00
8/18/2026, 11:11:09 PM
2027-03-19
$195.00
8/18/2026, 11:11:09 PM
2027-06-17
$200.00
8/18/2026, 11:11:09 PM
Selected expiration: 2026-08-21 at max pain $187.50.
DLR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
130
0
12779750
12779750
135
0
11478750
11478750
140
0
10180250
10180250
145
0
8885750
8885750
150
0
7613750
7613750
155
500
6350250
6350750
160
1000
5226750
5227750
165
2000
4117750
4119750
170
3000
3036750
3039750
172.5
4500
2586500
2591000
175
6000
2137500
2143500
177.5
95500
1722250
1817750
180
190750
1308250
1499000
182.5
336250
947750
1284000
185
485000
621250
1106250
187.5
648500
328000
976500
190
815250
221750
1037000
192.5
995250
155250
1150500
195
1184000
112750
1296750
197.5
1423750
77500
1501250
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.