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IBM

International Business MachinesClose $237.16EOD only
Max Pain
$227.50
Next expiry Aug 21, 2026
Expected Move
±$5.08
2.1% from close
Price Gap
-9.66
Distance to max pain
IV Rank
36
Middle-high premium
P/C OI
0.73
Slightly call-heavy
Consensus
4/4
Partial coverage
Published snapshot: Aug 19, 2026 close
End-of-day snapshot

This page reflects IBM options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
Aug 19, 2026 close
Max Pain — IBM
Data as of market close Aug 19, 2026
Open Available Reports (4/4)

Nearest listed expiration 2026-08-21 shows max pain at $227.50 (9.66 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike
$227.50
Nearest expiry
Expected Move
±$5.08
±2.1%
Days to Expiry
2
Calendar days
Total Call OI
104,343
Nearest expiry
Total Put OI
54,435
Nearest expiry
P/C OI Ratio
0.52
Put-heavy
Spot Price
$237.16
Published close
Consensus
-
Open report for full read

Max Pain by Expiration

Pain by Strike

Drill into expiration
Selected: 2026-08-21
ExpirationMax Pain StrikeLast Updated
2026-08-07$225.008/7/2026, 11:19:24 PM
2026-08-14$232.508/14/2026, 11:21:09 PM
2026-08-21NextUpdated$227.508/19/2026, 11:16:31 PM
2026-08-28$220.008/19/2026, 11:16:31 PM
2026-09-04$225.008/19/2026, 11:16:31 PM
2026-09-11$230.008/19/2026, 11:16:31 PM
2026-09-18$235.008/19/2026, 11:16:31 PM
2026-09-25$235.008/19/2026, 11:16:31 PM
2026-10-02$230.008/19/2026, 11:16:31 PM
2026-10-16$225.008/19/2026, 11:16:31 PM
2026-11-20$230.008/19/2026, 11:16:31 PM
2026-12-18$250.008/19/2026, 11:16:31 PM
2027-01-15$255.008/19/2026, 11:16:31 PM
2027-02-19$220.008/19/2026, 11:16:31 PM
2027-03-19$270.008/19/2026, 11:16:31 PM
2027-06-17$250.008/19/2026, 11:16:31 PM
Selected expiration: 2026-08-21 at max pain $227.50.
IBM pain by strike for 2026-08-21 expiration
StrikeCall PainPut PainTotal Pain
1150483884250483884250
12017000456760750456777750
12554000429935250429989250
130101500403210250403311750
135157000376512750376669750
140220500349852250350072750
145292500323300750323593250
150370500296812750297183250
155456000270476750270932750
160547000244299750244846750
165647000218625750219272750
170754000193254250194008250
175863000168840750169703750
180972500144971250145943750
1851096500122317250123413750
1901220500101006750102227250
192.512840009138550092669500
19513475008185500083202500
197.514145007297075074385250
20014815006414475065626250
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.