This page reflects GTM 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 — GTM
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $3.00 (0.82 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$3.00
Nearest expiry
Expected Move
±$0.28
±7.2%
Days to Expiry
3
Calendar days
Total Call OI
29,237
Nearest expiry
Total Put OI
14,780
Nearest expiry
P/C OI Ratio
0.51
Put-heavy
Spot Price
$3.82
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
2026-08-07
$3.50
8/7/2026, 11:15:50 PM
2026-08-14
$3.00
8/14/2026, 11:16:21 PM
2026-08-21NextUpdated
$3.00
8/18/2026, 11:15:25 PM
2026-08-28
$3.00
8/18/2026, 11:15:25 PM
2026-09-04
$1.00
8/18/2026, 11:15:25 PM
2026-09-11
$1.00
8/18/2026, 11:15:25 PM
2026-09-18
$3.00
8/18/2026, 11:15:25 PM
2026-09-25
$3.00
8/18/2026, 11:15:25 PM
2026-10-16
$3.00
8/18/2026, 11:15:25 PM
2027-01-15
$5.00
8/18/2026, 11:15:25 PM
Selected expiration: 2026-08-21 at max pain $3.00.
GTM pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
1796700
1796700
1.5
350
1057700
1058050
2
900
318700
319600
2.5
2900
156650
159550
3
5000
47400
52400
3.5
115750
10150
125900
4
229900
4250
234150
4.5
1617850
3100
1620950
5
3076150
2200
3078350
5.5
4538000
1450
4539450
6
5999850
750
6000600
6.5
7461700
450
7462150
7
8923550
200
8923750
8
11847250
0
11847250
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.