This page reflects IPGP 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 — IPGP
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $90.00 (8.69 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$90.00
Nearest expiry
Expected Move
±$4.42
±5.4%
Days to Expiry
3
Calendar days
Total Call OI
915
Nearest expiry
Total Put OI
318
Nearest expiry
P/C OI Ratio
0.35
Put-heavy
Spot Price
$81.31
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
$100.00
6/18/2026, 11:17:20 PM
2026-07-17
$105.00
7/17/2026, 11:19:30 PM
2026-08-21NextUpdated
$90.00
8/18/2026, 11:17:45 PM
2026-09-18
$90.00
8/18/2026, 11:17:45 PM
2026-10-16
$100.00
8/18/2026, 11:17:45 PM
2026-11-20
$120.00
8/18/2026, 11:17:45 PM
2027-01-15
$85.00
8/18/2026, 11:17:45 PM
Selected expiration: 2026-08-21 at max pain $90.00.
IPGP pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
533000
533000
65
500
375000
375500
70
1000
217000
218000
75
1500
123500
125000
80
2000
58000
60000
85
5000
30500
35500
90
8000
16000
24000
95
25000
6500
31500
100
55500
1000
56500
105
115000
0
115000
110
180000
0
180000
115
529000
0
529000
120
928000
0
928000
125
1338000
0
1338000
130
1775500
0
1775500
135
2217000
0
2217000
140
2660500
0
2660500
150
3570500
0
3570500
160
4482500
0
4482500
165
4939500
0
4939500
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.