This page reflects IMAX 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 — IMAX
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $43.00 (7.55 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$43.00
Nearest expiry
Expected Move
±$2.02
±4.0%
Days to Expiry
3
Calendar days
Total Call OI
9,911
Nearest expiry
Total Put OI
21,207
Nearest expiry
P/C OI Ratio
2.14
Put-heavy
Spot Price
$50.55
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
$37.00
6/18/2026, 11:18:05 PM
2026-07-17
$36.00
7/17/2026, 11:20:38 PM
2026-08-21NextUpdated
$43.00
8/18/2026, 11:16:23 PM
2026-09-18
$49.00
8/18/2026, 11:16:23 PM
2026-12-18
$44.00
8/18/2026, 11:16:23 PM
2027-03-19
$42.00
8/18/2026, 11:16:23 PM
Selected expiration: 2026-08-21 at max pain $43.00.
IMAX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
31264100
31264100
30
500
20693100
20693600
31
900
18579000
18579900
32
1400
16465600
16467000
33
2000
14361100
14363100
34
2800
12307500
12310300
35
4100
10284600
10288700
36
16100
8500100
8516200
37
30100
6751400
6781500
38
99300
5088600
5187900
39
203800
3444200
3648000
40
365700
2460600
2826300
41
654900
1697100
2352000
42
1010300
943400
1953700
43
1410200
208400
1618600
44
1840400
131900
1972300
45
2418500
73700
2492200
46
3118600
56000
3174600
47
3870300
40700
3911000
48
4623800
26500
4650300
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.