This page reflects DNOW 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 — DNOW
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $12.50 (3.43 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$12.50
Nearest expiry
Expected Move
±$0.35
±2.2%
Days to Expiry
3
Calendar days
Total Call OI
44,987
Nearest expiry
Total Put OI
1,206
Nearest expiry
P/C OI Ratio
0.03
Put-heavy
Spot Price
$15.93
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
$12.50
6/18/2026, 11:08:50 PM
2026-07-17
$12.50
7/17/2026, 11:12:29 PM
2026-08-21NextUpdated
$12.50
8/18/2026, 11:10:29 PM
2026-09-18
$14.00
8/18/2026, 11:10:29 PM
2026-11-20
$12.50
8/18/2026, 11:10:29 PM
2027-02-19
$12.00
8/18/2026, 11:10:29 PM
Selected expiration: 2026-08-21 at max pain $12.50.
DNOW pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
1167450
1167450
4
0
986550
986550
5
100
865950
866050
7.5
6100
564450
570550
9
10000
383550
393550
10
13000
262950
275950
11
20400
169850
190250
12.5
31950
30350
62300
14
142650
4400
147050
15
4162550
900
4163450
16
8463050
0
8463050
17.5
14970950
0
14970950
19
21552500
0
21552500
20
25940400
0
25940400
22.5
37157900
0
37157900
25
48375400
0
48375400
30
70863900
0
70863900
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.