This page reflects HRL 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 — HRL
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $25.00 (0.66 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$0.43
±1.8%
Days to Expiry
3
Calendar days
Total Call OI
6,521
Nearest expiry
Total Put OI
2,518
Nearest expiry
P/C OI Ratio
0.39
Put-heavy
Spot Price
$24.34
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
$20.50
8/7/2026, 11:16:37 PM
2026-08-14
$24.50
8/14/2026, 11:17:54 PM
2026-08-21NextUpdated
$25.00
8/18/2026, 11:20:50 PM
2026-08-28
$25.00
8/18/2026, 11:20:50 PM
2026-09-04
$24.00
8/18/2026, 11:20:50 PM
2026-09-11
$24.00
8/18/2026, 11:20:50 PM
2026-09-18
$23.00
8/18/2026, 11:20:50 PM
2026-09-25
$25.00
8/18/2026, 11:20:50 PM
2026-10-02
$24.00
8/18/2026, 11:20:50 PM
2026-12-18
$23.00
8/18/2026, 11:20:50 PM
2027-01-15
$23.00
8/18/2026, 11:20:50 PM
2027-03-19
$23.00
8/18/2026, 11:20:50 PM
Selected expiration: 2026-08-21 at max pain $25.00.
HRL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
2366350
2366350
17
200
1862750
1862950
18
1100
1610950
1612050
19
2800
1359350
1362150
20
4500
1107850
1112350
21
6200
856650
862850
22
7900
609150
617050
22.5
8850
486550
495400
23
9800
364150
373950
23.5
11350
252400
263750
24
35000
144000
179000
24.5
65800
62850
128650
25
99050
2300
101350
26
583050
0
583050
27
1169750
0
1169750
28
1784750
0
1784750
29
2428050
0
2428050
30
3074350
0
3074350
31
3725550
0
3725550
32
4376750
0
4376750
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.