This page reflects IONS 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 — IONS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $55.00 (4.62 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
±$2.15
±3.6%
Days to Expiry
3
Calendar days
Total Call OI
36,348
Nearest expiry
Total Put OI
4,832
Nearest expiry
P/C OI Ratio
0.13
Put-heavy
Spot Price
$59.62
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
8/18/2026, 11:17:27 PM
2026-09-18
$60.00
8/18/2026, 11:17:27 PM
2026-10-16
$55.00
8/18/2026, 11:17:27 PM
2027-01-15
$52.50
8/18/2026, 11:17:27 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
10302500
10302500
40
0
7887500
7887500
42.5
250
6680500
6680750
45
500
5477750
5478250
47.5
1750
4291250
4293000
50
3250
3135500
3138750
52.5
9000
2215250
2224250
55
69500
1389250
1458750
57.5
581750
1011750
1593500
60
1176500
635750
1812250
62.5
3387750
291500
3679250
65
5851750
24000
5875750
67.5
8472000
16000
8488000
70
11198000
8000
11206000
72.5
14180000
0
14180000
75
17230250
0
17230250
77.5
20371750
0
20371750
80
26069000
0
26069000
82.5
34250500
0
34250500
85
42461500
0
42461500
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.