This page reflects FIZZ 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 — FIZZ
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $25.00 (6.48 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$1.62
±5.2%
Days to Expiry
3
Calendar days
Total Call OI
318
Nearest expiry
Total Put OI
246
Nearest expiry
P/C OI Ratio
0.77
Put-heavy
Spot Price
$31.48
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
$35.00
6/18/2026, 11:13:28 PM
2026-07-17
$31.75
7/17/2026, 11:16:37 PM
2026-08-21NextUpdated
$25.00
8/18/2026, 11:14:01 PM
2026-09-18
$30.00
8/18/2026, 11:14:01 PM
2026-10-16
$31.75
8/18/2026, 11:14:01 PM
2027-01-15
$30.00
8/18/2026, 11:14:01 PM
Selected expiration: 2026-08-21 at max pain $25.00.
FIZZ pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
16.75
0
223975
223975
20
32500
153775
186275
21.75
50000
121225
171225
25
82500
74750
157250
26.75
100000
57250
157250
30
135100
27675
162775
31.75
156800
13325
170125
35
228950
0
228950
36.75
271125
0
271125
40
372200
0
372200
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.