This page reflects GRAL 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 — GRAL
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $70.00 (0.89 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$70.00
Nearest expiry
Expected Move
±$4.47
±6.3%
Days to Expiry
3
Calendar days
Total Call OI
1,533
Nearest expiry
Total Put OI
2,371
Nearest expiry
P/C OI Ratio
1.55
Put-heavy
Spot Price
$70.89
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
$60.00
6/18/2026, 11:15:34 PM
2026-07-17
$70.00
7/17/2026, 11:18:28 PM
2026-08-21NextUpdated
$70.00
8/18/2026, 11:18:40 PM
2026-09-18
$70.00
8/18/2026, 11:18:40 PM
2026-10-16
$70.00
8/18/2026, 11:18:40 PM
2027-01-15
$60.00
8/18/2026, 11:18:40 PM
Selected expiration: 2026-08-21 at max pain $70.00.
GRAL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
6949500
6949500
40
0
4580500
4580500
45
3000
3423500
3426500
50
7000
2276000
2283000
55
14000
1282500
1296500
60
32000
756000
788000
65
63500
319500
383000
70
108000
115000
223000
75
245000
19000
264000
80
611000
6500
617500
85
1110500
0
1110500
90
1662000
0
1662000
95
2307500
0
2307500
100
2965000
0
2965000
105
3704000
0
3704000
110
4446500
0
4446500
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.