This page reflects DVN 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 — DVN
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $44.00 (3.83 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
±$1.39
±2.9%
Days to Expiry
3
Calendar days
Total Call OI
106,676
Nearest expiry
Total Put OI
21,739
Nearest expiry
P/C OI Ratio
0.20
Put-heavy
Spot Price
$47.83
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
$43.00
8/7/2026, 11:10:59 PM
2026-08-14
$44.00
8/14/2026, 11:12:11 PM
2026-08-21NextUpdated
$44.00
8/18/2026, 11:10:48 PM
2026-08-28
$45.00
8/18/2026, 11:10:48 PM
2026-09-04
$45.00
8/18/2026, 11:10:48 PM
2026-09-11
$44.00
8/18/2026, 11:10:48 PM
2026-09-18
$45.00
8/18/2026, 11:10:48 PM
2026-09-25
$44.00
8/18/2026, 11:10:48 PM
2026-10-02
$45.00
8/18/2026, 11:10:48 PM
2026-10-16
$42.50
8/18/2026, 11:10:48 PM
2026-11-20
$45.00
8/18/2026, 11:10:48 PM
2026-12-18
$42.50
8/18/2026, 11:10:48 PM
2027-01-15
$40.00
8/18/2026, 11:10:48 PM
2027-03-19
$45.00
8/18/2026, 11:10:48 PM
2027-06-17
$42.50
8/18/2026, 11:10:48 PM
Selected expiration: 2026-08-21 at max pain $44.00.
DVN pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
37773000
37773000
27.5
1000
32338250
32339250
30
3500
26903500
26907000
32.5
12500
21504250
21516750
34
18050
18268450
18286500
35
21850
16111450
16133300
36
37850
14030050
14067900
37
53850
11949050
12002900
37.5
61850
10909750
10971600
38
74800
9952500
10027300
38.5
88100
8996200
9084300
39
101400
8042050
8143450
39.5
114850
7095150
7210000
40
128300
6155850
6284150
40.5
209700
5391750
5601450
41
291600
4660400
4952000
41.5
374750
3960500
4335250
42
458850
3332650
3791500
42.5
544450
2724900
3269350
43
882400
2226700
3109100
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.