This page reflects IMO 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 — IMO
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $115.00 (20.70 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$115.00
Nearest expiry
Expected Move
±$2.38
±1.8%
Days to Expiry
3
Calendar days
Total Call OI
1,869
Nearest expiry
Total Put OI
826
Nearest expiry
P/C OI Ratio
0.44
Put-heavy
Spot Price
$135.70
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
$120.00
6/18/2026, 11:21:46 PM
2026-07-17
$120.00
7/17/2026, 11:18:23 PM
2026-08-21NextUpdated
$115.00
8/18/2026, 11:15:03 PM
2026-09-18
$125.00
8/18/2026, 11:15:03 PM
2026-10-16
$125.00
8/18/2026, 11:15:03 PM
2026-11-20
$120.00
8/18/2026, 11:15:03 PM
2027-02-19
$120.00
8/18/2026, 11:15:03 PM
Selected expiration: 2026-08-21 at max pain $115.00.
IMO pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
45
0
4741500
4741500
60
0
3505500
3505500
75
0
2269500
2269500
80
0
1861500
1861500
85
0
1453500
1453500
90
0
1102000
1102000
95
1500
751000
752500
100
3000
401500
404500
105
8000
201500
209500
110
16500
71000
87500
115
43500
39500
83000
120
74000
21500
95500
125
131500
9000
140500
130
221000
1000
222000
135
626500
500
627000
140
1330000
0
1330000
145
2256000
0
2256000
150
3182500
0
3182500
155
4115000
0
4115000
160
5047500
0
5047500
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.