This page reflects GAP 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 — GAP
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $21.00 (0.92 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$21.00
Nearest expiry
Expected Move
±$0.69
±3.4%
Days to Expiry
3
Calendar days
Total Call OI
4,911
Nearest expiry
Total Put OI
10,813
Nearest expiry
P/C OI Ratio
2.20
Put-heavy
Spot Price
$20.08
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
$20.00
8/7/2026, 11:17:50 PM
2026-08-14
$20.00
8/14/2026, 11:16:32 PM
2026-08-21NextUpdated
$21.00
8/18/2026, 11:14:35 PM
2026-08-28
$20.00
8/18/2026, 11:14:35 PM
2026-09-04
$19.50
8/18/2026, 11:14:35 PM
2026-09-11
$20.50
8/18/2026, 11:14:35 PM
2026-09-18
$21.00
8/18/2026, 11:14:35 PM
2026-09-25
$20.00
8/18/2026, 11:14:35 PM
2026-12-18
$21.00
8/18/2026, 11:14:35 PM
2027-01-15
$25.00
8/18/2026, 11:14:35 PM
2027-03-19
$23.00
8/18/2026, 11:14:35 PM
2027-06-17
$20.00
8/18/2026, 11:14:35 PM
Selected expiration: 2026-08-21 at max pain $21.00.
GAP pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
13
0
7207800
7207800
14
800
6126500
6127300
15
2400
5047000
5049400
15.5
3800
4511900
4515700
16
5350
3977050
3982400
16.5
9000
3452300
3461300
17
12750
2928350
2941100
17.5
20450
2442850
2463300
18
28300
1961150
1989450
18.5
42500
1522550
1565050
19
57000
1089150
1146150
19.5
97550
699050
796600
20
139500
333350
472850
20.5
210450
166550
377000
21
295250
5050
300300
21.5
445600
3650
449250
22
611300
2250
613550
22.5
799400
1150
800550
23
997900
100
998000
23.5
1207850
50
1207900
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.