This page reflects FSS options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 19, 2026 close
Max Pain — FSS
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $120.00 (2.63 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
±$3.88
±3.2%
Days to Expiry
2
Calendar days
Total Call OI
348
Nearest expiry
Total Put OI
693
Nearest expiry
P/C OI Ratio
1.99
Put-heavy
Spot Price
$122.63
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
$115.00
6/18/2026, 11:14:28 PM
2026-07-17
$110.00
7/17/2026, 11:15:28 PM
2026-08-21NextUpdated
$120.00
8/19/2026, 11:15:01 PM
2026-09-18
$125.00
8/19/2026, 11:15:01 PM
2026-11-20
$125.00
8/19/2026, 11:15:01 PM
2027-02-19
$120.00
8/19/2026, 11:15:01 PM
Selected expiration: 2026-08-21 at max pain $120.00.
FSS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
75
0
2502500
2502500
80
0
2156500
2156500
85
0
1810500
1810500
90
0
1470000
1470000
95
0
1136500
1136500
100
0
806500
806500
105
0
479000
479000
110
2500
160000
162500
115
7000
95500
102500
120
18500
33000
51500
125
80500
1000
81500
130
154000
0
154000
135
322500
0
322500
140
491500
0
491500
145
663500
0
663500
150
836000
0
836000
155
1008500
0
1008500
165
1355500
0
1355500
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.