This page reflects FEIM 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 — FEIM
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $65.00 (10.17 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$65.00
Nearest expiry
Expected Move
±$5.75
±7.7%
Days to Expiry
3
Calendar days
Total Call OI
1,297
Nearest expiry
Total Put OI
913
Nearest expiry
P/C OI Ratio
0.70
Put-heavy
Spot Price
$75.17
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
$55.00
6/18/2026, 11:13:07 PM
2026-07-17
$60.00
7/17/2026, 11:13:02 PM
2026-08-21NextUpdated
$65.00
8/18/2026, 11:13:36 PM
2026-09-18
$60.00
8/18/2026, 11:13:36 PM
2026-11-20
$50.00
8/18/2026, 11:13:36 PM
2027-02-19
$60.00
8/18/2026, 11:13:36 PM
Selected expiration: 2026-08-21 at max pain $65.00.
FEIM pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
2449500
2449500
30
0
1994500
1994500
35
500
1542500
1543000
40
1000
1207000
1208000
45
3000
871500
874500
50
40000
551500
591500
55
87000
365500
452500
60
155500
196500
352000
65
233500
40000
273500
70
333500
21000
354500
75
458500
5000
463500
80
607000
2500
609500
85
789000
1500
790500
90
1040000
500
1040500
95
1375500
0
1375500
100
2000000
0
2000000
120
4592000
0
4592000
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.