This page reflects IEX 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 — IEX
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $220.00 (14.16 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$220.00
Nearest expiry
Expected Move
±$7.85
±3.4%
Days to Expiry
3
Calendar days
Total Call OI
1,348
Nearest expiry
Total Put OI
692
Nearest expiry
P/C OI Ratio
0.51
Put-heavy
Spot Price
$234.16
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
$210.00
6/18/2026, 11:21:37 PM
2026-07-17
$210.00
7/17/2026, 11:18:15 PM
2026-08-21NextUpdated
$220.00
8/18/2026, 11:17:01 PM
2026-09-18
$230.00
8/18/2026, 11:17:01 PM
2026-10-16
$200.00
8/18/2026, 11:17:01 PM
2027-01-15
$230.00
8/18/2026, 11:17:01 PM
Selected expiration: 2026-08-21 at max pain $220.00.
IEX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
185
0
1775500
1775500
190
0
1430500
1430500
195
0
1087500
1087500
200
500
745000
745500
210
1500
65000
66500
220
2500
17000
19500
230
27500
0
27500
240
759500
0
759500
250
1904500
0
1904500
260
3243500
0
3243500
270
4587500
0
4587500
310
9979500
0
9979500
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.