This page reflects HSBC options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 17, 2026 close
Max Pain — HSBC
Data as of market close Aug 17, 2026
Nearest listed expiration 2026-08-21 shows max pain at $102.00 (1.80 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$102.00
Nearest expiry
Expected Move
±$1.93
±1.9%
Days to Expiry
4
Calendar days
Total Call OI
1,076
Nearest expiry
Total Put OI
1,809
Nearest expiry
P/C OI Ratio
1.68
Put-heavy
Spot Price
$103.80
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
$106.00
8/7/2026, 11:19:32 PM
2026-08-14
$104.00
8/14/2026, 11:17:50 PM
2026-08-21NextUpdated
$102.00
8/17/2026, 11:17:44 PM
2026-08-28
$104.00
8/17/2026, 11:17:44 PM
2026-09-04
$104.00
8/17/2026, 11:17:44 PM
2026-09-11
$103.00
8/17/2026, 11:17:44 PM
2026-09-18
$95.00
8/17/2026, 11:17:44 PM
2026-09-25
$103.00
8/17/2026, 11:17:44 PM
2026-12-18
$95.00
8/17/2026, 11:17:44 PM
2027-01-15
$90.00
8/17/2026, 11:17:44 PM
2027-03-19
$90.00
8/17/2026, 11:17:44 PM
2027-06-17
$100.00
8/17/2026, 11:17:44 PM
Selected expiration: 2026-08-21 at max pain $102.00.
HSBC pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
7583300
7583300
55
0
6690800
6690800
60
0
5798800
5798800
70
0
4014800
4014800
75
0
3126800
3126800
80
0
2317300
2317300
85
0
1519300
1519300
90
0
796300
796300
91
0
672500
672500
92
0
561800
561800
93
0
453100
453100
94
0
345100
345100
95
0
237600
237600
96
0
196800
196800
97
0
159100
159100
98
0
125200
125200
99
300
95000
95300
100
700
69000
69700
101
2600
47400
50000
102
5200
32500
37700
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.