This page reflects ENPH 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 — ENPH
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $44.00 (6.42 above 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
±$1.75
±4.7%
Days to Expiry
3
Calendar days
Total Call OI
36,592
Nearest expiry
Total Put OI
27,679
Nearest expiry
P/C OI Ratio
0.76
Put-heavy
Spot Price
$37.58
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
$37.00
8/7/2026, 11:14:44 PM
2026-08-14
$39.00
8/14/2026, 11:11:19 PM
2026-08-21NextUpdated
$44.00
8/18/2026, 11:12:26 PM
2026-08-28
$40.00
8/18/2026, 11:12:26 PM
2026-09-04
$40.00
8/18/2026, 11:12:26 PM
2026-09-11
$42.00
8/18/2026, 11:12:26 PM
2026-09-18
$45.00
8/18/2026, 11:12:26 PM
2026-09-25
$40.00
8/18/2026, 11:12:26 PM
2026-10-02
$40.00
8/18/2026, 11:12:26 PM
2026-10-16
$40.00
8/18/2026, 11:12:26 PM
2026-11-20
$40.00
8/18/2026, 11:12:26 PM
2026-12-18
$45.00
8/18/2026, 11:12:26 PM
2027-01-15
$45.00
8/18/2026, 11:12:26 PM
2027-02-19
$45.00
8/18/2026, 11:12:26 PM
2027-06-17
$60.00
8/18/2026, 11:12:26 PM
Selected expiration: 2026-08-21 at max pain $44.00.
ENPH pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
67984400
67984400
17.5
1750
61072150
61073900
20
7000
54166650
54173650
22.5
14250
47298900
47313150
25
21500
40471650
40493150
28
47600
32525550
32573150
29
56300
29877150
29933450
30
65000
27229150
27294150
31
99100
24832550
24931650
32
133200
22442050
22575250
33
167400
20058450
20225850
34
201700
17680250
17881950
34.5
220050
16497000
16717050
35
238450
15313950
15552400
35.5
288500
14275000
14563500
36
340850
13249400
13590250
36.5
399850
12229050
12628900
37
463850
11218850
11682700
37.5
534950
10236250
10771200
38
617200
9263700
9880900
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.