This page reflects IPAR 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 — IPAR
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $110.00 (3.46 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$110.00
Nearest expiry
Expected Move
±$2.40
±2.1%
Days to Expiry
3
Calendar days
Total Call OI
67
Nearest expiry
Total Put OI
50
Nearest expiry
P/C OI Ratio
0.75
Put-heavy
Spot Price
$113.46
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
$95.00
6/18/2026, 11:19:16 PM
2026-07-17
$90.00
7/17/2026, 11:20:50 PM
2026-08-21NextUpdated
$110.00
8/18/2026, 11:19:40 PM
2026-09-18
$100.00
8/18/2026, 11:19:40 PM
2026-11-20
$100.00
8/18/2026, 11:19:40 PM
2027-02-19
$100.00
8/18/2026, 11:19:40 PM
Selected expiration: 2026-08-21 at max pain $110.00.
IPAR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
59500
59500
65
0
52000
52000
75
0
37000
37000
80
0
31000
31000
85
0
25500
25500
90
0
21500
21500
95
500
17500
18000
100
1000
14000
15000
105
2500
10500
13000
110
5500
7000
12500
115
11500
3500
15000
120
22000
0
22000
125
35500
0
35500
130
51000
0
51000
135
80500
0
80500
140
113000
0
113000
145
145500
0
145500
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.