This page reflects EMN 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 — EMN
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $65.00 (8.00 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$65.00
Nearest expiry
Expected Move
±$2.38
±3.3%
Days to Expiry
3
Calendar days
Total Call OI
9,465
Nearest expiry
Total Put OI
1,156
Nearest expiry
P/C OI Ratio
0.12
Put-heavy
Spot Price
$73.00
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
$75.00
6/18/2026, 11:12:30 PM
2026-07-17
$70.00
7/17/2026, 11:13:43 PM
2026-08-21NextUpdated
$65.00
8/18/2026, 11:13:21 PM
2026-09-18
$70.00
8/18/2026, 11:13:21 PM
2026-12-18
$70.00
8/18/2026, 11:13:21 PM
2027-01-15
$70.00
8/18/2026, 11:13:21 PM
Selected expiration: 2026-08-21 at max pain $65.00.
EMN pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
2864000
2864000
50
0
1709000
1709000
55
0
1138000
1138000
60
0
599000
599000
65
1500
154500
156000
70
505500
14000
519500
75
2901500
0
2901500
80
5878000
0
5878000
85
10314500
0
10314500
90
15040000
0
15040000
95
19771500
0
19771500
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.