This page reflects ED 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 — ED
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $110.00 (2.00 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$110.00
Nearest expiry
Expected Move
±$2.15
±2.0%
Days to Expiry
2
Calendar days
Total Call OI
3,874
Nearest expiry
Total Put OI
1,496
Nearest expiry
P/C OI Ratio
0.39
Put-heavy
Spot Price
$108.00
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
$105.00
6/18/2026, 11:14:13 PM
2026-07-17
$105.00
7/17/2026, 11:14:58 PM
2026-08-21NextUpdated
$110.00
8/19/2026, 11:13:32 PM
2026-09-18
$105.00
8/19/2026, 11:13:32 PM
2026-11-20
$105.00
8/19/2026, 11:13:32 PM
2027-01-15
$105.00
8/19/2026, 11:13:32 PM
2027-02-19
$90.00
8/19/2026, 11:13:32 PM
Selected expiration: 2026-08-21 at max pain $110.00.
ED pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
65
0
5174750
5174750
70
0
4427250
4427250
75
0
3680750
3680750
80
0
2935250
2935250
85
0
2189750
2189750
90
0
1463750
1463750
92.5
0
1115750
1115750
95
0
772500
772500
97.5
250
563750
564000
100
500
404000
404500
105
1000
153000
154000
110
1500
27000
28500
115
543500
10000
553500
120
1791500
3500
1795000
125
3379000
2000
3381000
130
5195000
1000
5196000
135
7069000
500
7069500
140
8963500
0
8963500
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.