This page reflects GEMI 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 — GEMI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $4.00 (0.46 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$4.00
Nearest expiry
Expected Move
±$0.23
±6.4%
Days to Expiry
3
Calendar days
Total Call OI
2,670
Nearest expiry
Total Put OI
1,177
Nearest expiry
P/C OI Ratio
0.44
Put-heavy
Spot Price
$3.54
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
$3.50
8/7/2026, 11:13:47 PM
2026-08-14
$4.00
8/14/2026, 11:13:59 PM
2026-08-21NextUpdated
$4.00
8/18/2026, 11:16:28 PM
2026-08-28
$4.00
8/18/2026, 11:16:28 PM
2026-09-04
$4.00
8/18/2026, 11:16:28 PM
2026-09-11
$4.00
8/18/2026, 11:16:28 PM
2026-09-18
$5.00
8/18/2026, 11:16:28 PM
2026-09-25
$4.00
8/18/2026, 11:16:28 PM
2026-10-02
$3.00
8/18/2026, 11:16:28 PM
2026-10-16
$5.00
8/18/2026, 11:16:28 PM
2027-01-15
$5.00
8/18/2026, 11:16:28 PM
Selected expiration: 2026-08-21 at max pain $4.00.
GEMI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
354850
354850
1.5
0
296000
296000
2
5000
237150
242150
2.5
10000
178350
188350
3
15850
119600
135450
3.5
21750
68900
90650
4
37200
32150
69350
4.5
79300
16150
95450
5
138800
2250
141050
5.5
246150
1600
247750
6
360800
950
361750
6.5
478900
450
479350
7
597850
250
598100
7.5
717300
50
717350
8
850650
0
850650
8.5
984000
0
984000
10
1384050
0
1384050
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.