This page reflects INDI 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 — INDI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $3.00 (1.34 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$3.00
Nearest expiry
Expected Move
±$0.53
±12.1%
Days to Expiry
3
Calendar days
Total Call OI
41,714
Nearest expiry
Total Put OI
9,290
Nearest expiry
P/C OI Ratio
0.22
Put-heavy
Spot Price
$4.34
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
$4.00
6/18/2026, 11:16:32 PM
2026-07-17
$4.00
7/17/2026, 11:22:27 PM
2026-08-21NextUpdated
$3.00
8/18/2026, 11:16:09 PM
2026-09-18
$3.50
8/18/2026, 11:16:09 PM
2026-11-20
$3.50
8/18/2026, 11:16:09 PM
2027-01-15
$3.00
8/18/2026, 11:16:09 PM
2027-02-19
$3.50
8/18/2026, 11:16:09 PM
Selected expiration: 2026-08-21 at max pain $3.00.
INDI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
2590050
2590050
1
0
2125750
2125750
1.5
0
1661450
1661450
2
0
1197850
1197850
2.5
54850
761150
816000
3
238400
452650
691050
3.5
492150
218250
710400
4
957050
109200
1066250
4.5
1718700
38900
1757600
5
3057550
950
3058500
5.5
4757250
0
4757250
7.5
12919650
0
12919650
10
23328150
0
23328150
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.