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GLD

SPDR Gold SharesClose $405.49EOD only
Max Pain
$395.00
Next expiry Aug 19, 2026
Expected Move
±$5.09
1.3% from close
Price Gap
-10.49
Distance to max pain
IV Rank
6
Low premium
P/C OI
0.44
Slightly call-heavy
Consensus
4.5/10
Consensus signal
Published snapshot: Aug 17, 2026 close
End-of-day snapshot

This page reflects GLD options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
Aug 17, 2026 close
Max Pain — GLD
Data as of market close Aug 17, 2026
Open Directional Report

Nearest listed expiration 2026-08-19 shows max pain at $395.00 (10.49 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike
$395.00
Nearest expiry
Expected Move
±$5.09
±1.3%
Days to Expiry
2
Calendar days
Total Call OI
11,445
Nearest expiry
Total Put OI
9,600
Nearest expiry
P/C OI Ratio
0.84
Put-heavy
Spot Price
$405.49
Published close
Consensus
4.5/10
Open report for full read

Max Pain by Expiration

Pain by Strike

Drill into expiration
Selected: 2026-08-19
ExpirationMax Pain StrikeLast Updated
2026-08-14$392.008/14/2026, 11:17:08 PM
2026-08-17Updated$399.008/17/2026, 11:20:14 PM
2026-08-19Next$395.008/17/2026, 11:20:14 PM
2026-08-21$385.008/17/2026, 11:20:14 PM
2026-08-24$399.008/17/2026, 11:20:14 PM
2026-08-26$385.008/17/2026, 11:20:14 PM
2026-08-28$382.008/17/2026, 11:20:14 PM
2026-09-04$390.008/17/2026, 11:20:14 PM
2026-09-11$391.008/17/2026, 11:20:14 PM
2026-09-18$385.008/17/2026, 11:20:14 PM
2026-09-25$385.008/17/2026, 11:20:14 PM
2026-09-30$385.008/17/2026, 11:20:14 PM
2026-10-02$395.008/17/2026, 11:20:14 PM
2026-10-16$390.008/17/2026, 11:20:14 PM
2026-11-20$405.008/17/2026, 11:20:14 PM
2026-12-18$400.008/17/2026, 11:20:14 PM
2026-12-31$410.008/17/2026, 11:20:14 PM
2027-01-15$375.008/17/2026, 11:20:14 PM
2027-02-19$390.008/17/2026, 11:20:14 PM
2027-03-19$400.008/17/2026, 11:20:14 PM
2027-03-31$400.008/17/2026, 11:20:14 PM
2027-06-17$380.008/17/2026, 11:20:14 PM
2027-06-30$400.008/17/2026, 11:20:14 PM
Selected expiration: 2026-08-19 at max pain $395.00.
GLD pain by strike for 2026-08-19 expiration
StrikeCall PainPut PainTotal Pain
28509738640097386400
29009258640092586400
32505898640058986400
33510004938640049387400
34015004458690044588400
34116004362850043630100
34217004267140042673100
34318004171560041717400
34419004076080040762700
34520003980650039808500
34621003885370038855800
34722003790260037904800
34823003695260036954900
34924003600300036005400
35025003505390035056400
35126003410730034109900
35227003316300033165700
35331003222050032223600
35437003127940031283100
35544003034120030345600
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.