This page reflects EXP options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 17, 2026 close
Max Pain — EXP
Data as of market close Aug 17, 2026
Nearest listed expiration 2026-08-21 shows max pain at $220.00 (14.49 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$220.00
Nearest expiry
Expected Move
±$8.15
±4.0%
Days to Expiry
4
Calendar days
Total Call OI
1,154
Nearest expiry
Total Put OI
224
Nearest expiry
P/C OI Ratio
0.19
Put-heavy
Spot Price
$205.51
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
$220.00
6/18/2026, 11:14:08 PM
2026-07-17
$200.00
7/17/2026, 11:14:06 PM
2026-08-21NextUpdated
$220.00
8/17/2026, 11:14:26 PM
2026-09-18
$210.00
8/17/2026, 11:14:26 PM
2026-10-16
$210.00
8/17/2026, 11:14:26 PM
2026-11-20
$230.00
8/17/2026, 11:14:26 PM
2027-01-15
$185.00
8/17/2026, 11:14:26 PM
Selected expiration: 2026-08-21 at max pain $220.00.
EXP pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
150
0
1377000
1377000
170
2000
927000
929000
175
2500
815000
817500
180
3000
703000
706000
185
3500
593500
597000
190
5000
491000
496000
195
7000
394000
401000
200
9000
299000
308000
210
14000
138000
152000
220
27000
0
27000
230
252000
0
252000
240
485000
0
485000
250
1069000
0
1069000
260
1864000
0
1864000
270
3016000
0
3016000
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.