This page reflects ETD 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 — ETD
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $24.75 (2.38 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$24.75
Nearest expiry
Expected Move
±$1.68
±7.5%
Days to Expiry
3
Calendar days
Total Call OI
3,089
Nearest expiry
Total Put OI
1,015
Nearest expiry
P/C OI Ratio
0.33
Put-heavy
Spot Price
$22.37
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
$20.00
6/18/2026, 11:12:45 PM
2026-07-17
$20.00
7/17/2026, 11:14:59 PM
2026-08-21NextUpdated
$24.75
8/18/2026, 11:14:35 PM
2026-09-18
$22.25
8/18/2026, 11:14:35 PM
2026-11-20
$20.00
8/18/2026, 11:14:35 PM
2027-02-19
$17.25
8/18/2026, 11:14:35 PM
Selected expiration: 2026-08-21 at max pain $24.75.
ETD pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
9.75
0
1000675
1000675
10
0
976175
976175
12.25
0
755675
755675
12.5
0
731175
731175
14.75
0
510675
510675
15
0
488625
488625
17.25
0
312225
312225
17.5
0
293525
293525
19.75
0
133325
133325
20
0
121725
121725
22.25
0
73125
73125
22.5
25
69450
69475
24.75
475
51900
52375
25
38150
50000
88150
29.75
1468850
26250
1495100
30
1545100
25000
1570100
34.75
3011900
1250
3013150
35
3089100
0
3089100
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.