Nearest listed expiration 2026-08-21 shows max pain at $64.50 (2.82 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$64.50
Nearest expiry
Expected Move
±$1.36
±2.0%
Days to Expiry
4
Calendar days
Total Call OI
268,872
Nearest expiry
Total Put OI
410,987
Nearest expiry
P/C OI Ratio
1.53
Put-heavy
Spot Price
$67.32
Published close
Consensus
4.0/10
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
$64.00
8/7/2026, 11:13:36 PM
2026-08-14
$65.50
8/14/2026, 11:10:09 PM
2026-08-21NextUpdated
$64.50
8/17/2026, 11:13:03 PM
2026-08-28
$65.00
8/17/2026, 11:13:03 PM
2026-09-04
$65.00
8/17/2026, 11:13:03 PM
2026-09-11
$66.50
8/17/2026, 11:13:03 PM
2026-09-18
$64.00
8/17/2026, 11:13:03 PM
2026-09-25
$63.50
8/17/2026, 11:13:03 PM
2026-09-30
$61.00
8/17/2026, 11:13:03 PM
2026-10-02
$64.00
8/17/2026, 11:13:03 PM
2026-10-16
$64.00
8/17/2026, 11:13:03 PM
2026-11-20
$66.00
8/17/2026, 11:13:03 PM
2026-12-18
$65.00
8/17/2026, 11:13:03 PM
2026-12-31
$58.00
8/17/2026, 11:13:03 PM
2027-01-15
$65.00
8/17/2026, 11:13:03 PM
2027-03-19
$69.00
8/17/2026, 11:13:03 PM
2027-03-31
$69.00
8/17/2026, 11:13:03 PM
2027-06-17
$65.00
8/17/2026, 11:13:03 PM
2027-06-30
$60.00
8/17/2026, 11:13:03 PM
Selected expiration: 2026-08-21 at max pain $64.50.
EEM pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
1006150200
1006150200
35.5
100
985606200
985606300
36
200
965065350
965065550
36.5
300
944526600
944526900
37
400
923990450
923990850
37.5
500
903459300
903459800
38
600
882929750
882930350
38.5
700
862402000
862402700
39
800
841874850
841875650
39.5
900
821351500
821352400
40
1000
800840950
800841950
40.5
21250
780350300
780371550
41
41500
759875100
759916600
41.5
61750
739401250
739463000
42
82000
718929600
719011600
42.5
102250
698458950
698561200
43
122500
678003850
678126350
43.5
144700
657560750
657705450
44
166900
637117950
637284850
44.5
189100
616682550
616871650
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.