This page reflects ESS 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 — ESS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $290.00 (6.29 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$290.00
Nearest expiry
Expected Move
±$6.85
±2.4%
Days to Expiry
3
Calendar days
Total Call OI
1,102
Nearest expiry
Total Put OI
67
Nearest expiry
P/C OI Ratio
0.06
Put-heavy
Spot Price
$283.71
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
$270.00
6/18/2026, 11:13:50 PM
2026-07-17
$290.00
7/17/2026, 11:13:18 PM
2026-08-21NextUpdated
$290.00
8/18/2026, 11:12:55 PM
2026-09-18
$290.00
8/18/2026, 11:12:55 PM
2026-10-16
$270.00
8/18/2026, 11:12:55 PM
2027-01-15
$250.00
8/18/2026, 11:12:55 PM
Selected expiration: 2026-08-21 at max pain $290.00.
ESS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
180
0
538000
538000
185
0
505000
505000
195
0
440000
440000
200
0
408000
408000
210
0
345000
345000
220
0
283000
283000
250
0
100000
100000
260
0
57000
57000
270
0
23000
23000
280
0
2000
2000
290
1000
0
1000
300
292000
0
292000
310
1165000
0
1165000
320
2075000
0
2075000
330
3167000
0
3167000
390
9737000
0
9737000
400
10834000
0
10834000
410
11933000
0
11933000
420
13034000
0
13034000
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.