This page reflects ICLR 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 — ICLR
Data as of market close Aug 17, 2026
Nearest listed expiration 2026-08-21 shows max pain at $175.00 (5.55 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$175.00
Nearest expiry
Expected Move
±$6.50
±3.8%
Days to Expiry
4
Calendar days
Total Call OI
4,439
Nearest expiry
Total Put OI
4,324
Nearest expiry
P/C OI Ratio
0.97
Put-heavy
Spot Price
$169.45
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
$130.00
6/18/2026, 11:18:02 PM
2026-07-17
$150.00
7/17/2026, 11:17:40 PM
2026-08-21NextUpdated
$175.00
8/17/2026, 11:21:07 PM
2026-09-18
$170.00
8/17/2026, 11:21:07 PM
2026-10-16
$120.00
8/17/2026, 11:21:07 PM
2026-12-18
$110.00
8/17/2026, 11:21:07 PM
2027-01-15
$140.00
8/17/2026, 11:21:07 PM
Selected expiration: 2026-08-21 at max pain $175.00.
ICLR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
120
0
19580000
19580000
130
0
15256000
15256000
135
0
13098500
13098500
140
0
10941500
10941500
145
1000
8952000
8953000
150
4000
7032500
7036500
155
8000
5194000
5202000
160
19000
3360000
3379000
165
31000
1596000
1627000
170
87000
332000
419000
175
195500
33000
228500
180
338500
11500
350000
185
770000
0
770000
190
1297000
0
1297000
195
2160000
0
2160000
200
3034500
0
3034500
210
5138500
0
5138500
220
8127500
0
8127500
230
12566500
0
12566500
240
17005500
0
17005500
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.