This page reflects FTRE options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 20, 2026 close
Max Pain — FTRE
Data as of market close Aug 20, 2026
Nearest listed expiration 2026-08-21 shows max pain at $17.50 (0.69 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$17.50
Nearest expiry
Expected Move
±$1.35
±7.4%
Days to Expiry
1
Calendar days
Total Call OI
6,092
Nearest expiry
Total Put OI
593
Nearest expiry
P/C OI Ratio
0.10
Put-heavy
Spot Price
$18.19
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
$12.50
6/18/2026, 11:18:25 PM
2026-07-17
$17.50
7/17/2026, 11:17:29 PM
2026-08-21NextUpdated
$17.50
8/20/2026, 11:15:28 PM
2026-09-18
$15.00
8/20/2026, 11:15:28 PM
2026-11-20
$12.50
8/20/2026, 11:15:28 PM
2027-02-19
$7.50
8/20/2026, 11:15:28 PM
Selected expiration: 2026-08-21 at max pain $17.50.
FTRE pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
758750
758750
5
1750
610500
612250
7.5
4500
462750
467250
10
7250
316250
323500
12.5
10000
189500
199500
15
16250
71250
87500
17.5
27000
8500
35500
20
823250
0
823250
22.5
2038500
0
2038500
25
3530000
0
3530000
27.5
5048750
0
5048750
30
6567750
0
6567750
32.5
8090500
0
8090500
35
9613500
0
9613500
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.