This page reflects HNRG 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 — HNRG
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $15.00 (0.79 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$15.00
Nearest expiry
Expected Move
±$0.78
±4.9%
Days to Expiry
3
Calendar days
Total Call OI
11,331
Nearest expiry
Total Put OI
6,107
Nearest expiry
P/C OI Ratio
0.54
Put-heavy
Spot Price
$15.79
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
$18.00
6/18/2026, 11:17:10 PM
2026-07-17
$17.00
7/17/2026, 11:19:48 PM
2026-08-21NextUpdated
$15.00
8/18/2026, 11:16:55 PM
2026-09-18
$15.00
8/18/2026, 11:16:55 PM
2026-11-20
$17.00
8/18/2026, 11:16:55 PM
2027-01-15
$15.00
8/18/2026, 11:16:55 PM
2027-02-19
$15.00
8/18/2026, 11:16:55 PM
Selected expiration: 2026-08-21 at max pain $15.00.
HNRG pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
8158400
8158400
2
59200
7547700
7606900
3
120000
6937000
7057000
5
241600
5715600
5957200
6
302700
5104900
5407600
7
363800
4494200
4858000
8
425300
3883500
4308800
9
486900
3273000
3759900
10
548600
2677500
3226100
11
610700
2094600
2705300
12
672800
1516200
2189000
13
735100
939100
1674200
14
938800
376400
1315200
15
1157500
145600
1303100
16
1387800
87400
1475200
17
1714200
57200
1771400
18
2319900
38300
2358200
19
3049600
21200
3070800
20
4083300
7900
4091200
21
5186800
5900
5192700
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.