This page reflects DVA 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 — DVA
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $200.00 (22.09 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$200.00
Nearest expiry
Expected Move
±$4.90
±2.8%
Days to Expiry
3
Calendar days
Total Call OI
2,823
Nearest expiry
Total Put OI
1,842
Nearest expiry
P/C OI Ratio
0.65
Put-heavy
Spot Price
$177.91
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
$195.00
6/18/2026, 11:12:29 PM
2026-07-17
$160.00
7/17/2026, 11:14:59 PM
2026-08-21NextUpdated
$200.00
8/18/2026, 11:12:56 PM
2026-09-18
$185.00
8/18/2026, 11:12:56 PM
2026-10-16
$210.00
8/18/2026, 11:12:56 PM
2026-11-20
$190.00
8/18/2026, 11:12:56 PM
2026-12-18
$145.00
8/18/2026, 11:12:56 PM
2027-01-15
$210.00
8/18/2026, 11:12:56 PM
2027-02-19
$220.00
8/18/2026, 11:12:56 PM
2027-05-21
$195.00
8/18/2026, 11:12:56 PM
Selected expiration: 2026-08-21 at max pain $200.00.
DVA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
135
0
10383000
10383000
145
2000
8541000
8543000
150
4000
7620000
7624000
155
6500
6704500
6711000
160
9000
5862000
5871000
165
14500
5133500
5148000
170
21500
4428000
4449500
175
41500
3741500
3783000
180
62500
3099000
3161500
185
114500
2526000
2640500
190
245500
1973500
2219000
195
484000
1546000
2030000
200
768000
1166000
1934000
210
1559000
521000
2080000
220
2522000
6000
2528000
230
3737000
0
3737000
240
5194000
0
5194000
250
7304000
0
7304000
260
9815000
0
9815000
270
12508000
0
12508000
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.