This page reflects ESTC 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 — ESTC
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $55.00 (30.01 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$55.00
Nearest expiry
Expected Move
±$3.12
±3.7%
Days to Expiry
3
Calendar days
Total Call OI
14,952
Nearest expiry
Total Put OI
3,881
Nearest expiry
P/C OI Ratio
0.26
Put-heavy
Spot Price
$85.01
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
$55.00
6/18/2026, 11:15:53 PM
2026-07-17
$60.00
7/17/2026, 11:12:40 PM
2026-08-21NextUpdated
$55.00
8/18/2026, 11:12:26 PM
2026-09-18
$75.00
8/18/2026, 11:12:26 PM
2026-11-20
$60.00
8/18/2026, 11:12:26 PM
2026-12-18
$50.00
8/18/2026, 11:12:26 PM
2027-01-15
$60.00
8/18/2026, 11:12:26 PM
2027-02-19
$75.00
8/18/2026, 11:12:26 PM
2027-06-17
$55.00
8/18/2026, 11:12:26 PM
Selected expiration: 2026-08-21 at max pain $55.00.
ESTC pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
22.5
0
13595250
13595250
25
0
12625500
12625500
30
5000
10688500
10693500
35
13500
8751500
8765000
40
23000
6859000
6882000
45
40000
5012500
5052500
50
93000
3318000
3411000
55
151500
1757000
1908500
60
1325500
1128500
2454000
65
3805000
668500
4473500
70
6730000
415000
7145000
75
10298500
179500
10478000
80
15413500
32000
15445500
85
20680000
0
20680000
90
26705500
0
26705500
95
33764500
0
33764500
100
40926000
0
40926000
105
48284500
0
48284500
110
55643000
0
55643000
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.