This page reflects FPS 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 — FPS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $37.50 (1.32 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$37.50
Nearest expiry
Expected Move
±$2.40
±6.6%
Days to Expiry
3
Calendar days
Total Call OI
22,447
Nearest expiry
Total Put OI
15,343
Nearest expiry
P/C OI Ratio
0.68
Put-heavy
Spot Price
$36.18
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, 11:14:32 PM
2026-07-17
$50.00
7/17/2026, 11:15:43 PM
2026-08-21NextUpdated
$37.50
8/18/2026, 11:17:14 PM
2026-09-18
$35.00
8/18/2026, 11:17:14 PM
2026-11-20
$22.50
8/18/2026, 11:17:14 PM
2027-01-15
$45.00
8/18/2026, 11:17:14 PM
2027-02-19
$30.00
8/18/2026, 11:17:14 PM
Selected expiration: 2026-08-21 at max pain $37.50.
FPS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
32241000
32241000
17.5
0
28407250
28407250
20
0
24592000
24592000
22.5
6500
20785000
20791500
25
21000
16995000
17016000
27.5
46000
13275750
13321750
30
158250
9767500
9925750
32.5
406250
6739750
7146000
35
728250
3766250
4494500
37.5
1764750
1653750
3418500
40
3429500
875500
4305000
42.5
6067750
610250
6678000
45
9363500
369500
9733000
47.5
13036000
244250
13280250
50
16754500
119000
16873500
55
25457000
17000
25474000
60
34674500
7000
34681500
65
44738500
1000
44739500
70
54874000
500
54874500
75
65493500
0
65493500
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.