This page reflects FLEX 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 — FLEX
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $120.00 (0.24 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$120.00
Nearest expiry
Expected Move
±$5.70
±4.7%
Days to Expiry
3
Calendar days
Total Call OI
20,429
Nearest expiry
Total Put OI
20,559
Nearest expiry
P/C OI Ratio
1.01
Put-heavy
Spot Price
$120.24
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
$140.00
6/18/2026, 11:12:52 PM
2026-07-17
$135.00
7/17/2026, 11:15:10 PM
2026-08-21NextUpdated
$120.00
8/18/2026, 11:13:30 PM
2026-09-18
$125.00
8/18/2026, 11:13:30 PM
2026-10-16
$135.00
8/18/2026, 11:13:30 PM
2026-11-20
$100.00
8/18/2026, 11:13:30 PM
2027-01-15
$80.00
8/18/2026, 11:13:30 PM
2027-02-19
$120.00
8/18/2026, 11:13:30 PM
Selected expiration: 2026-08-21 at max pain $120.00.
FLEX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
158322000
158322000
35
0
148045500
148045500
40
1000
137773000
137774000
45
4000
127506000
127510000
50
15000
117241000
117256000
55
29500
107304000
107333500
60
57000
97380500
97437500
65
89000
87483500
87572500
70
138000
77629500
77767500
75
267500
67815000
68082500
80
421500
58029000
58450500
85
598500
48410500
49009000
90
805500
39622000
40427500
95
1614500
31231000
32845500
100
2438500
23160500
25599000
105
3298000
16388500
19686500
110
4382000
10607000
14989000
115
5638500
5899000
11537500
120
7230000
2966000
10196000
125
9119500
2018000
11137500
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.