This page reflects GNW 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 — GNW
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $9.00 (1.08 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$9.00
Nearest expiry
Expected Move
±$0.25
±2.5%
Days to Expiry
3
Calendar days
Total Call OI
4,946
Nearest expiry
Total Put OI
80
Nearest expiry
P/C OI Ratio
0.02
Put-heavy
Spot Price
$10.08
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
$8.00
6/18/2026, 11:16:03 PM
2026-07-17
$9.00
7/17/2026, 11:18:30 PM
2026-08-21NextUpdated
$9.00
8/18/2026, 11:15:16 PM
2026-09-18
$8.00
8/18/2026, 11:15:16 PM
2026-12-18
$10.00
8/18/2026, 11:15:16 PM
2027-01-15
$7.00
8/18/2026, 11:15:16 PM
2027-03-19
$10.00
8/18/2026, 11:15:16 PM
Selected expiration: 2026-08-21 at max pain $9.00.
GNW pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
2
0
62300
62300
3
0
54400
54400
4
200
46500
46700
5
600
38600
39200
6
1100
30700
31800
8
2300
14900
17200
9
3000
7200
10200
10
315700
1200
316900
11
782900
700
783600
13
1772100
300
1772400
14
2266700
200
2266900
15
2761300
100
2761400
16
3255900
0
3255900
17
3750500
0
3750500
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.