This page reflects HLNE 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 — HLNE
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $95.00 (6.10 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$95.00
Nearest expiry
Expected Move
±$5.70
±5.6%
Days to Expiry
3
Calendar days
Total Call OI
448
Nearest expiry
Total Put OI
523
Nearest expiry
P/C OI Ratio
1.17
Put-heavy
Spot Price
$101.10
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
$90.00
6/18/2026, 11:21:00 PM
2026-07-17
$85.00
7/17/2026, 11:19:35 PM
2026-08-21NextUpdated
$95.00
8/18/2026, 11:16:40 PM
2026-09-18
$100.00
8/18/2026, 11:16:40 PM
2026-11-20
$85.00
8/18/2026, 11:16:40 PM
2027-02-19
$70.00
8/18/2026, 11:16:40 PM
Selected expiration: 2026-08-21 at max pain $95.00.
HLNE pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
1489000
1489000
55
0
1237500
1237500
60
0
986000
986000
65
0
756500
756500
70
1000
541000
542000
75
2000
425000
427000
80
6000
318000
324000
85
13500
214000
227500
90
26500
124500
151000
95
45000
44000
89000
100
72500
23500
96000
105
112000
10500
122500
110
165500
8000
173500
115
227500
7000
234500
120
291000
6000
297000
125
367500
5000
372500
130
448500
4000
452500
135
543500
3000
546500
140
763500
2000
765500
145
985000
1000
986000
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.