This page reflects FE 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 — FE
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $49.00 (1.74 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$49.00
Nearest expiry
Expected Move
±$1.70
±3.6%
Days to Expiry
3
Calendar days
Total Call OI
1,759
Nearest expiry
Total Put OI
1,098
Nearest expiry
P/C OI Ratio
0.62
Put-heavy
Spot Price
$47.26
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
$45.00
6/18/2026, 11:15:13 PM
2026-07-17
$46.00
7/17/2026, 11:15:47 PM
2026-08-21NextUpdated
$49.00
8/18/2026, 11:12:35 PM
2026-09-18
$45.00
8/18/2026, 11:12:35 PM
2026-10-16
$46.00
8/18/2026, 11:12:35 PM
2026-12-18
$50.00
8/18/2026, 11:12:35 PM
2027-01-15
$47.00
8/18/2026, 11:12:35 PM
2027-03-19
$45.00
8/18/2026, 11:12:35 PM
2027-06-17
$45.00
8/18/2026, 11:12:35 PM
Selected expiration: 2026-08-21 at max pain $49.00.
FE pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
800500
800500
41
0
695800
695800
42
0
592200
592200
43
0
490200
490200
44
0
394900
394900
45
0
306700
306700
46
0
221900
221900
47
31800
148400
180200
48
65900
85200
151100
49
109100
28500
137600
50
217900
0
217900
55
1075900
0
1075900
60
1953400
0
1953400
65
2831900
0
2831900
70
3710900
0
3710900
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.