This page reflects IRTC 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 — IRTC
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $115.00 (0.24 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$115.00
Nearest expiry
Expected Move
±$4.42
±3.8%
Days to Expiry
3
Calendar days
Total Call OI
923
Nearest expiry
Total Put OI
470
Nearest expiry
P/C OI Ratio
0.51
Put-heavy
Spot Price
$115.24
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
$115.00
6/18/2026, 11:19:13 PM
2026-07-17
$115.00
7/17/2026, 11:19:10 PM
2026-08-21NextUpdated
$115.00
8/18/2026, 11:18:01 PM
2026-09-18
$115.00
8/18/2026, 11:18:01 PM
2026-11-20
$115.00
8/18/2026, 11:18:01 PM
2026-12-18
$135.00
8/18/2026, 11:18:01 PM
2027-01-15
$135.00
8/18/2026, 11:18:01 PM
2027-03-19
$80.00
8/18/2026, 11:18:01 PM
Selected expiration: 2026-08-21 at max pain $115.00.
IRTC pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
2005000
2005000
75
0
1300000
1300000
80
0
1071000
1071000
90
0
624000
624000
95
0
441500
441500
100
0
283500
283500
105
0
161000
161000
110
0
79500
79500
115
2000
30000
32000
120
29500
9500
39000
125
93000
5000
98000
130
200500
2500
203000
135
376000
0
376000
140
558500
0
558500
145
994000
0
994000
150
1434000
0
1434000
155
1880000
0
1880000
160
2326000
0
2326000
165
2773000
0
2773000
170
3221000
0
3221000
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.