This page reflects ETR 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 — ETR
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $110.00 (1.92 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$110.00
Nearest expiry
Expected Move
±$2.35
±2.2%
Days to Expiry
3
Calendar days
Total Call OI
3,577
Nearest expiry
Total Put OI
730
Nearest expiry
P/C OI Ratio
0.20
Put-heavy
Spot Price
$108.08
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
$110.00
6/18/2026, 11:12:23 PM
2026-07-17
$110.00
7/17/2026, 11:13:46 PM
2026-08-21NextUpdated
$110.00
8/18/2026, 11:12:44 PM
2026-09-18
$110.00
8/18/2026, 11:12:44 PM
2026-11-20
$110.00
8/18/2026, 11:12:44 PM
2026-12-18
$110.00
8/18/2026, 11:12:44 PM
2027-01-15
$105.00
8/18/2026, 11:12:44 PM
2027-03-19
$90.00
8/18/2026, 11:12:44 PM
Selected expiration: 2026-08-21 at max pain $110.00.
ETR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
3322000
3322000
80
0
1864000
1864000
85
0
1499500
1499500
90
0
1135000
1135000
95
0
791000
791000
100
0
448000
448000
105
0
119000
119000
110
16500
5000
21500
115
55500
0
55500
120
568000
0
568000
125
2290000
0
2290000
130
4055500
0
4055500
135
5834500
0
5834500
145
9405500
0
9405500
155
12977500
0
12977500
165
16550500
0
16550500
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.