This page reflects FRMI options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 17, 2026 close
Max Pain — FRMI
Data as of market close Aug 17, 2026
Nearest listed expiration 2026-08-21 shows max pain at $6.50 (0.36 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$6.50
Nearest expiry
Expected Move
±$0.57
±9.4%
Days to Expiry
4
Calendar days
Total Call OI
268,323
Nearest expiry
Total Put OI
53,662
Nearest expiry
P/C OI Ratio
0.20
Put-heavy
Spot Price
$6.14
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
2026-08-07
$6.00
8/7/2026, 11:16:41 PM
2026-08-14
$6.50
8/14/2026, 11:13:53 PM
2026-08-21NextUpdated
$6.50
8/17/2026, 11:14:16 PM
2026-08-28
$6.50
8/17/2026, 11:14:16 PM
2026-09-04
$6.50
8/17/2026, 11:14:16 PM
2026-09-11
$8.00
8/17/2026, 11:14:16 PM
2026-09-18
$7.00
8/17/2026, 11:14:16 PM
2026-09-25
$6.50
8/17/2026, 11:14:16 PM
2026-10-02
$9.00
8/17/2026, 11:14:16 PM
2026-10-16
$7.00
8/17/2026, 11:14:16 PM
2026-11-20
$6.00
8/17/2026, 11:14:16 PM
2026-12-18
$7.50
8/17/2026, 11:14:16 PM
2027-01-15
$6.00
8/17/2026, 11:14:16 PM
2027-02-19
$7.00
8/17/2026, 11:14:16 PM
2027-06-17
$7.00
8/17/2026, 11:14:16 PM
Selected expiration: 2026-08-21 at max pain $6.50.
FRMI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
26972400
26972400
1.5
7200
24245650
24252850
2
15700
21518900
21534600
2.5
24550
18792150
18816700
3
35800
16083400
16119200
3.5
47600
13374650
13422250
4
59550
10666200
10725750
4.5
81150
8047300
8128450
5
103150
6198950
6302100
5.5
270450
4671600
4942050
6
441000
3323450
3764450
6.5
1447950
2330000
3777950
7
2571050
1500700
4071750
7.5
3893950
756250
4650200
8
6809450
606200
7415650
8.5
10866550
463850
11330400
9
15128500
337600
15466100
9.5
20980150
265300
21245450
10
26837650
193250
27030900
10.5
34867900
153050
35020950
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.