Nearest listed expiration 2026-08-21 shows max pain at $79.50 (0.11 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$79.50
Nearest expiry
Expected Move
±$0.21
±0.3%
Days to Expiry
4
Calendar days
Total Call OI
479,435
Nearest expiry
Total Put OI
1,440,246
Nearest expiry
P/C OI Ratio
3.00
Put-heavy
Spot Price
$79.61
Published close
Consensus
4.5/10
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
$79.00
8/7/2026, 11:18:44 PM
2026-08-14
$79.50
8/14/2026, 11:18:12 PM
2026-08-21NextUpdated
$79.50
8/17/2026, 11:16:56 PM
2026-08-28
$79.00
8/17/2026, 11:16:56 PM
2026-09-04
$79.50
8/17/2026, 11:16:56 PM
2026-09-11
$77.00
8/17/2026, 11:16:56 PM
2026-09-18
$80.00
8/17/2026, 11:16:56 PM
2026-09-25
$80.00
8/17/2026, 11:16:56 PM
2026-10-16
$80.00
8/17/2026, 11:16:56 PM
2026-11-20
$79.00
8/17/2026, 11:16:56 PM
2026-12-18
$79.00
8/17/2026, 11:16:56 PM
2027-01-15
$80.00
8/17/2026, 11:16:56 PM
2027-02-19
$80.00
8/17/2026, 11:16:56 PM
2027-03-19
$86.00
8/17/2026, 11:16:56 PM
2027-04-16
$78.00
8/17/2026, 11:16:56 PM
2027-05-21
$80.00
8/17/2026, 11:16:56 PM
2027-06-17
$80.00
8/17/2026, 11:16:56 PM
2027-07-16
$79.00
8/17/2026, 11:16:56 PM
Selected expiration: 2026-08-21 at max pain $79.50.
HYG pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
45
0
4586924300
4586924300
50
0
3862760300
3862760300
55
0
3138596300
3138596300
60
0
2414432300
2414432300
65
0
1700321300
1700321300
68
0
1271983400
1271983400
69
200
1129210600
1129210800
70
600
986439100
986439700
71
1000
853325100
853326100
72
1800
723568800
723570600
73
2600
594579000
594581600
74
3400
466292600
466296000
75
4200
344567600
344571800
75.5
4600
287393800
287398400
76
5000
230225100
230230100
76.5
5400
179017900
179023300
77
5800
128006600
128012400
77.5
6200
87721850
87728050
78
6600
49312350
49318950
78.5
7000
25643100
25650100
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.