This page reflects FCFS 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 — FCFS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $200.00 (12.74 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$200.00
Nearest expiry
Expected Move
±$5.90
±2.8%
Days to Expiry
3
Calendar days
Total Call OI
353
Nearest expiry
Total Put OI
172
Nearest expiry
P/C OI Ratio
0.49
Put-heavy
Spot Price
$212.74
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
$200.00
6/18/2026, 11:13:23 PM
2026-07-17
$220.00
7/17/2026, 11:14:57 PM
2026-08-21NextUpdated
$200.00
8/18/2026, 11:15:06 PM
2026-09-18
$190.00
8/18/2026, 11:15:06 PM
2026-12-18
$190.00
8/18/2026, 11:15:06 PM
2027-03-19
$160.00
8/18/2026, 11:15:06 PM
Selected expiration: 2026-08-21 at max pain $200.00.
FCFS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
140
0
1094500
1094500
170
0
581500
581500
175
0
497500
497500
180
0
414000
414000
185
0
332000
332000
190
0
263000
263000
195
0
196500
196500
200
14500
136000
150500
210
144500
61000
205500
220
321500
0
321500
230
519500
0
519500
240
736500
0
736500
250
1060500
0
1060500
260
1395500
0
1395500
270
1735500
0
1735500
280
2076500
0
2076500
330
3786500
0
3786500
340
4139500
0
4139500
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.