This page reflects GL 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 — GL
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $175.00 (3.08 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$175.00
Nearest expiry
Expected Move
±$3.30
±1.9%
Days to Expiry
3
Calendar days
Total Call OI
1,433
Nearest expiry
Total Put OI
1,444
Nearest expiry
P/C OI Ratio
1.01
Put-heavy
Spot Price
$178.08
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
2026-06-18
$145.00
6/18/2026, 11:13:37 PM
2026-07-17
$175.00
7/17/2026, 11:17:51 PM
2026-08-21NextUpdated
$175.00
8/18/2026, 11:14:06 PM
2026-09-18
$180.00
8/18/2026, 11:14:06 PM
2026-11-20
$185.00
8/18/2026, 11:14:06 PM
2027-01-15
$90.00
8/18/2026, 11:14:06 PM
2027-02-19
$165.00
8/18/2026, 11:14:06 PM
Selected expiration: 2026-08-21 at max pain $175.00.
GL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
75
0
11929000
11929000
80
0
11212000
11212000
85
500
10498000
10498500
90
1000
9785000
9786000
95
2000
9072500
9074500
105
4000
7650500
7654500
110
5000
6940500
6945500
115
6500
6230500
6237000
120
8000
5521000
5529000
125
11000
4811500
4822500
130
14000
4102500
4116500
135
18000
3493500
3511500
140
23500
2885500
2909000
145
32500
2285000
2317500
150
42000
1793500
1835500
155
64000
1309000
1373000
160
106500
960500
1067000
165
223000
615000
838000
170
411500
336500
748000
175
661500
60000
721500
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.