This page reflects IP 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 — IP
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $41.00 (0.95 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$41.00
Nearest expiry
Expected Move
±$1.02
±2.6%
Days to Expiry
3
Calendar days
Total Call OI
3,764
Nearest expiry
Total Put OI
4,467
Nearest expiry
P/C OI Ratio
1.19
Put-heavy
Spot Price
$40.05
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
2026-08-07
$41.00
8/7/2026, 11:17:38 PM
2026-08-14
$42.00
8/14/2026, 11:22:16 PM
2026-08-21NextUpdated
$41.00
8/18/2026, 11:18:36 PM
2026-08-28
$41.00
8/18/2026, 11:18:36 PM
2026-09-04
$40.00
8/18/2026, 11:18:36 PM
2026-09-11
$41.00
8/18/2026, 11:18:36 PM
2026-09-18
$40.00
8/18/2026, 11:18:36 PM
2026-09-25
$40.00
8/18/2026, 11:18:36 PM
2026-10-16
$37.50
8/18/2026, 11:18:36 PM
2026-12-18
$37.50
8/18/2026, 11:18:36 PM
2027-01-15
$37.50
8/18/2026, 11:18:36 PM
2027-03-19
$32.50
8/18/2026, 11:18:36 PM
2027-06-17
$37.50
8/18/2026, 11:18:36 PM
Selected expiration: 2026-08-21 at max pain $41.00.
IP pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
8941100
8941100
17.5
0
7824600
7824600
20
0
6708600
6708600
22.5
0
5599350
5599350
25
0
4498100
4498100
27.5
0
3401350
3401350
28
0
3185500
3185500
29
0
2803400
2803400
30
0
2424000
2424000
31
200
2072100
2072300
32
400
1720300
1720700
32.5
550
1544550
1545100
33
800
1406400
1407200
34
1300
1133200
1134500
35
1900
872100
874000
36
2700
676400
679100
37
3500
481600
485100
37.5
3900
384950
388850
38
4350
319700
324050
39
5450
223600
229050
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.