This page reflects HEI 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 — HEI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $330.00 (38.01 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$330.00
Nearest expiry
Expected Move
±$8.43
±2.3%
Days to Expiry
3
Calendar days
Total Call OI
2,038
Nearest expiry
Total Put OI
1,585
Nearest expiry
P/C OI Ratio
0.78
Put-heavy
Spot Price
$368.01
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
$310.00
6/18/2026, 11:16:43 PM
2026-07-17
$340.00
7/17/2026, 11:20:33 PM
2026-08-21NextUpdated
$330.00
8/18/2026, 11:14:52 PM
2026-09-18
$350.00
8/18/2026, 11:14:52 PM
2026-11-20
$340.00
8/18/2026, 11:14:52 PM
2027-01-15
$280.00
8/18/2026, 11:14:52 PM
2027-02-19
$370.00
8/18/2026, 11:14:52 PM
Selected expiration: 2026-08-21 at max pain $330.00.
HEI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
180
0
18919000
18919000
185
0
18127000
18127000
190
500
17336000
17336500
195
1500
16545500
16547000
200
2500
15755000
15757500
210
4500
14181000
14185500
220
6500
12610000
12616500
230
8500
11039000
11047500
240
11500
9468000
9479500
250
14500
8075000
8089500
260
17500
6794000
6811500
270
25500
5544000
5569500
280
33500
4359000
4392500
290
62500
3218000
3280500
300
104500
2099000
2203500
310
161500
1022000
1183500
320
279500
608000
887500
330
515500
328000
843500
340
870500
148000
1018500
350
1275500
55000
1330500
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.