This page reflects GIL 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 — GIL
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $52.50 (3.26 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$52.50
Nearest expiry
Expected Move
±$1.27
±2.3%
Days to Expiry
3
Calendar days
Total Call OI
13,610
Nearest expiry
Total Put OI
10,681
Nearest expiry
P/C OI Ratio
0.78
Put-heavy
Spot Price
$55.76
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
$52.50
6/18/2026, 11:15:14 PM
2026-07-17
$50.00
7/17/2026, 11:16:17 PM
2026-08-21NextUpdated
$52.50
8/18/2026, 11:11:39 PM
2026-09-18
$52.50
8/18/2026, 11:11:39 PM
2026-10-16
$60.00
8/18/2026, 11:11:39 PM
2026-12-18
$50.00
8/18/2026, 11:11:39 PM
2027-03-19
$52.50
8/18/2026, 11:11:39 PM
Selected expiration: 2026-08-21 at max pain $52.50.
GIL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
32.5
0
19887250
19887250
40
1500
11876500
11878000
42.5
2000
9221250
9223250
45
2500
6573000
6575500
47.5
3250
3953500
3956750
50
4250
1384500
1388750
52.5
125000
188500
313500
55
2214250
30750
2245000
57.5
4736250
4250
4740500
60
8028250
2000
8030250
62.5
11400000
1500
11401500
65
14783000
1000
14784000
70
21551500
0
21551500
80
35157500
0
35157500
85
41961000
0
41961000
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.