This page reflects DOCS 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 — DOCS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $22.50 (2.44 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$22.50
Nearest expiry
Expected Move
±$1.18
±4.7%
Days to Expiry
3
Calendar days
Total Call OI
33,886
Nearest expiry
Total Put OI
17,272
Nearest expiry
P/C OI Ratio
0.51
Put-heavy
Spot Price
$24.94
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
$20.00
6/18/2026, 11:11:48 PM
2026-07-17
$20.00
7/17/2026, 11:12:46 PM
2026-08-21NextUpdated
$22.50
8/18/2026, 11:10:37 PM
2026-09-18
$22.50
8/18/2026, 11:10:37 PM
2026-11-20
$27.50
8/18/2026, 11:10:37 PM
2026-12-18
$22.50
8/18/2026, 11:10:37 PM
2027-01-15
$27.50
8/18/2026, 11:10:37 PM
2027-02-19
$22.50
8/18/2026, 11:10:37 PM
Selected expiration: 2026-08-21 at max pain $22.50.
DOCS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
33802750
33802750
5
1000
29484750
29485750
7.5
3000
25166750
25169750
10
5000
20848750
20853750
12.5
7000
16555750
16562750
15
15250
12316000
12331250
17.5
35250
8622250
8657500
20
59750
5471000
5530750
22.5
743250
3166250
3909500
25
3780750
1663750
5444500
27.5
7809750
747750
8557500
30
12531000
218500
12749500
32.5
18289000
99500
18388500
35
25115750
48000
25163750
37.5
32519250
25250
32544500
40
40108500
7500
40116000
42.5
48142250
5000
48147250
45
56257250
2500
56259750
47.5
64466500
0
64466500
50
72693000
0
72693000
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.