This page reflects IONS options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 19, 2026 close
Max Pain — IONS
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $55.00 (5.80 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$55.00
Nearest expiry
Expected Move
±$1.88
±3.1%
Days to Expiry
2
Calendar days
Total Call OI
35,874
Nearest expiry
Total Put OI
4,780
Nearest expiry
P/C OI Ratio
0.13
Put-heavy
Spot Price
$60.80
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
$72.50
6/18/2026, 11:18:49 PM
2026-07-17
$60.00
7/17/2026, 11:22:48 PM
2026-08-21NextUpdated
$55.00
8/19/2026, 11:21:11 PM
2026-09-18
$60.00
8/19/2026, 11:21:11 PM
2026-10-16
$55.00
8/19/2026, 11:21:11 PM
2027-01-15
$52.50
8/19/2026, 11:21:11 PM
Selected expiration: 2026-08-21 at max pain $55.00.
IONS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
10203000
10203000
40
0
7814000
7814000
42.5
250
6620000
6620250
45
500
5430250
5430750
47.5
1750
4256750
4258500
50
3250
3114000
3117250
52.5
9000
2206500
2215500
55
68250
1388250
1456500
57.5
552500
1011000
1563500
60
1119000
635250
1754250
62.5
3212750
291250
3504000
65
5559250
24000
5583250
67.5
8061000
16000
8077000
70
10668500
8000
10676500
72.5
13532000
0
13532000
75
16463750
0
16463750
77.5
19486750
0
19486750
80
25065500
0
25065500
82.5
33128500
0
33128500
85
41221000
0
41221000
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.