IWM
iShares Russell 2000 ETFClose $304.06EOD onlyThis page reflects IWM options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Nearest listed expiration 2026-08-18 shows max pain at $303.00 (1.06 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain by Expiration
Pain by Strike
| Expiration | Max Pain Strike | Last Updated |
|---|---|---|
| 2026-08-14 | $300.00 | 8/14/2026, 11:20:23 PM |
| 2026-08-17Updated | $304.00 | 8/17/2026, 11:20:45 PM |
| 2026-08-18Next | $303.00 | 8/17/2026, 11:20:45 PM |
| 2026-08-19 | $303.00 | 8/17/2026, 11:20:45 PM |
| 2026-08-20 | $303.00 | 8/17/2026, 11:20:45 PM |
| 2026-08-21 | $295.00 | 8/17/2026, 11:20:45 PM |
| 2026-08-24 | $304.00 | 8/17/2026, 11:20:45 PM |
| 2026-08-25 | $303.00 | 8/17/2026, 11:20:45 PM |
| 2026-08-26 | $303.00 | 8/17/2026, 11:20:45 PM |
| 2026-08-27 | $304.00 | 8/17/2026, 11:20:45 PM |
| 2026-08-28 | $300.00 | 8/17/2026, 11:20:45 PM |
| 2026-09-04 | $301.00 | 8/17/2026, 11:20:45 PM |
| 2026-09-11 | $300.00 | 8/17/2026, 11:20:45 PM |
| 2026-09-18 | $289.00 | 8/17/2026, 11:20:45 PM |
| 2026-09-25 | $302.00 | 8/17/2026, 11:20:45 PM |
| 2026-09-30 | $290.00 | 8/17/2026, 11:20:45 PM |
| 2026-10-02 | $307.00 | 8/17/2026, 11:20:45 PM |
| 2026-10-16 | $296.00 | 8/17/2026, 11:20:45 PM |
| 2026-11-20 | $290.00 | 8/17/2026, 11:20:45 PM |
| 2026-12-18 | $270.00 | 8/17/2026, 11:20:45 PM |
| 2026-12-31 | $295.00 | 8/17/2026, 11:20:45 PM |
| 2027-01-15 | $290.00 | 8/17/2026, 11:20:45 PM |
| 2027-02-19 | $305.00 | 8/17/2026, 11:20:45 PM |
| 2027-03-19 | $290.00 | 8/17/2026, 11:20:45 PM |
| 2027-03-31 | $315.00 | 8/17/2026, 11:20:45 PM |
| 2027-04-16 | $295.00 | 8/17/2026, 11:20:45 PM |
| 2027-06-17 | $290.00 | 8/17/2026, 11:20:45 PM |
| 2027-06-30 | $335.00 | 8/17/2026, 11:20:45 PM |
| Strike | Call Pain | Put Pain | Total Pain |
|---|---|---|---|
| 240 | 0 | 173370050 | 173370050 |
| 250 | 0 | 143910050 | 143910050 |
| 255 | 500 | 129180050 | 129180550 |
| 260 | 1500 | 114451050 | 114452550 |
| 267 | 2900 | 93831150 | 93834050 |
| 268 | 3100 | 90885750 | 90888850 |
| 270 | 3500 | 84995350 | 84998850 |
| 273 | 4100 | 76163950 | 76168050 |
| 274 | 4300 | 73220650 | 73224950 |
| 275 | 4500 | 70277850 | 70282350 |
| 276 | 4700 | 67343550 | 67348250 |
| 277 | 5000 | 64409250 | 64414250 |
| 278 | 5300 | 61475950 | 61481250 |
| 279 | 5600 | 58547550 | 58553150 |
| 280 | 5900 | 55635950 | 55641850 |
| 281 | 6200 | 52734650 | 52740850 |
| 282 | 6500 | 49835250 | 49841750 |
| 282.5 | 6650 | 48399650 | 48406300 |
| 283 | 6800 | 46964700 | 46971500 |
| 284 | 9300 | 44101000 | 44110300 |
Max pain is the strike where option holders would collectively lose the most at expiration, based on open interest across the listed chain.
It is most useful as a possible pinning zone, especially when spot is already trading near a crowded strike into expiration.
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.