This page reflects GFS 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 — GFS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $55.00 (5.10 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$55.00
Nearest expiry
Expected Move
±$2.33
±4.7%
Days to Expiry
3
Calendar days
Total Call OI
29,850
Nearest expiry
Total Put OI
11,581
Nearest expiry
P/C OI Ratio
0.39
Put-heavy
Spot Price
$49.90
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
$75.00
6/18/2026, 11:19:12 PM
2026-07-17
$50.00
7/17/2026, 11:15:37 PM
2026-08-21NextUpdated
$55.00
8/18/2026, 11:14:21 PM
2026-09-18
$55.00
8/18/2026, 11:14:21 PM
2026-10-16
$60.00
8/18/2026, 11:14:21 PM
2027-01-15
$55.00
8/18/2026, 11:14:21 PM
2027-03-19
$45.00
8/18/2026, 11:14:21 PM
2027-06-17
$50.00
8/18/2026, 11:14:21 PM
Selected expiration: 2026-08-21 at max pain $55.00.
GFS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
17558000
17558000
40
0
11853000
11853000
45
42000
7117500
7159500
50
180000
3899000
4079000
55
615500
1849000
2464500
60
2466000
720000
3186000
65
5750000
298500
6048500
70
9525500
222000
9747500
75
22528500
148000
22676500
80
35806000
74000
35880000
85
49707000
0
49707000
90
63780000
0
63780000
95
77973500
0
77973500
100
92229500
0
92229500
105
106962500
0
106962500
110
121802000
0
121802000
115
136663500
0
136663500
120
151545000
0
151545000
125
166455500
0
166455500
130
181379500
0
181379500
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.