This page reflects DRS 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 — DRS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $44.00 (0.23 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$44.00
Nearest expiry
Expected Move
±$1.62
±3.7%
Days to Expiry
3
Calendar days
Total Call OI
689
Nearest expiry
Total Put OI
233
Nearest expiry
P/C OI Ratio
0.34
Put-heavy
Spot Price
$44.23
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
$43.00
6/18/2026, 11:11:04 PM
2026-07-17
$42.00
7/17/2026, 11:13:40 PM
2026-08-21NextUpdated
$44.00
8/18/2026, 11:11:00 PM
2026-09-18
$44.00
8/18/2026, 11:11:00 PM
2026-10-16
$44.00
8/18/2026, 11:11:00 PM
2027-01-15
$44.00
8/18/2026, 11:11:00 PM
Selected expiration: 2026-08-21 at max pain $44.00.
DRS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
34
0
143600
143600
35
0
128300
128300
36
0
113100
113100
38
400
82700
83100
39
600
68500
69100
40
900
54800
55700
41
2500
41700
44200
42
4400
28900
33300
43
6600
17900
24500
44
12400
10900
23300
45
27300
6000
33300
46
44300
3500
47800
47
65500
2200
67700
48
95700
1000
96700
49
127200
0
127200
50
160200
0
160200
55
435700
0
435700
60
773700
0
773700
65
1116200
0
1116200
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.