This page reflects ECL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 19, 2026 close
Max Pain — ECL
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $280.00 (5.62 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$280.00
Nearest expiry
Expected Move
±$7.15
±2.5%
Days to Expiry
2
Calendar days
Total Call OI
2,791
Nearest expiry
Total Put OI
5,151
Nearest expiry
P/C OI Ratio
1.85
Put-heavy
Spot Price
$285.62
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
$270.00
6/18/2026, 11:12:34 PM
2026-07-17
$280.00
7/17/2026, 11:12:33 PM
2026-08-21NextUpdated
$280.00
8/19/2026, 11:11:53 PM
2026-09-18
$280.00
8/19/2026, 11:11:53 PM
2026-10-16
$270.00
8/19/2026, 11:11:53 PM
2026-12-18
$270.00
8/19/2026, 11:11:53 PM
2027-01-15
$220.00
8/19/2026, 11:11:53 PM
Selected expiration: 2026-08-21 at max pain $280.00.
ECL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
165
0
47089500
47089500
170
0
44515000
44515000
200
0
29071000
29071000
220
0
18983000
18983000
230
0
13943000
13943000
240
0
8918000
8918000
250
0
6054000
6054000
260
1000
3292000
3293000
270
16000
623000
639000
280
432000
203000
635000
290
1186000
1000
1187000
300
2432000
0
2432000
310
4711000
0
4711000
320
7343000
0
7343000
330
10116000
0
10116000
340
12896000
0
12896000
350
15677000
0
15677000
390
26805000
0
26805000
400
29591000
0
29591000
410
32380000
0
32380000
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.