This page reflects ERIE 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 — ERIE
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $230.00 (26.95 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$230.00
Nearest expiry
Expected Move
±$8.22
±3.2%
Days to Expiry
3
Calendar days
Total Call OI
696
Nearest expiry
Total Put OI
61
Nearest expiry
P/C OI Ratio
0.09
Put-heavy
Spot Price
$256.95
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
$210.00
6/18/2026, 11:13:36 PM
2026-07-17
$220.00
7/17/2026, 11:13:47 PM
2026-08-21NextUpdated
$230.00
8/18/2026, 11:12:57 PM
2026-09-18
$230.00
8/18/2026, 11:12:57 PM
2026-12-18
$210.00
8/18/2026, 11:12:57 PM
2027-03-19
$200.00
8/18/2026, 11:12:57 PM
Selected expiration: 2026-08-21 at max pain $230.00.
ERIE pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
150
0
416000
416000
155
1000
386000
387000
165
4000
326000
330000
170
6000
296000
302000
180
10000
238000
248000
185
12000
210000
222000
190
14000
182500
196500
195
16000
156500
172500
200
18000
131000
149000
210
22000
91000
113000
220
29000
55000
84000
230
41000
31000
72000
240
464000
14000
478000
250
1100000
4000
1104000
260
1741000
0
1741000
270
2404000
0
2404000
280
3068000
0
3068000
290
3742000
0
3742000
300
4427000
0
4427000
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.