This page reflects IMSR 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 — IMSR
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $7.50 (1.99 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$7.50
Nearest expiry
Expected Move
±$0.72
±13.2%
Days to Expiry
3
Calendar days
Total Call OI
30,421
Nearest expiry
Total Put OI
14,354
Nearest expiry
P/C OI Ratio
0.47
Put-heavy
Spot Price
$5.51
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
$7.50
6/18/2026, 11:16:42 PM
2026-07-17
$5.00
7/17/2026, 11:18:26 PM
2026-08-21NextUpdated
$7.50
8/18/2026, 11:19:16 PM
2026-09-18
$5.00
8/18/2026, 11:19:16 PM
2026-11-20
$7.50
8/18/2026, 11:19:16 PM
2026-12-18
$7.50
8/18/2026, 11:19:16 PM
2027-01-15
$5.00
8/18/2026, 11:19:16 PM
2027-02-19
$5.00
8/18/2026, 11:19:16 PM
Selected expiration: 2026-08-21 at max pain $7.50.
IMSR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
3657750
3657750
5
21000
623250
644250
7.5
465250
96250
561500
10
1476000
20000
1496000
12.5
3472500
6250
3478750
15
7535500
2500
7538000
17.5
11952250
0
11952250
20
16431250
0
16431250
22.5
23578500
0
23578500
25
30737250
0
30737250
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.