This page reflects KD 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 — KD
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $12.00 (0.33 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$12.00
Nearest expiry
Expected Move
±$0.77
±6.3%
Days to Expiry
3
Calendar days
Total Call OI
7,094
Nearest expiry
Total Put OI
26,153
Nearest expiry
P/C OI Ratio
3.69
Put-heavy
Spot Price
$12.33
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
$13.00
6/18/2026, 11:19:52 PM
2026-07-17
$12.00
7/17/2026, 11:21:40 PM
2026-08-21NextUpdated
$12.00
8/18/2026, 11:19:10 PM
2026-09-18
$12.00
8/18/2026, 11:19:10 PM
2026-12-18
$10.00
8/18/2026, 11:19:10 PM
2027-01-15
$13.00
8/18/2026, 11:19:10 PM
2027-03-19
$13.00
8/18/2026, 11:19:10 PM
Selected expiration: 2026-08-21 at max pain $12.00.
KD pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
4
0
19931600
19931600
5
100
17316400
17316500
6
200
14701200
14701400
7
300
12086000
12086300
8
400
9472500
9472900
9
1500
6897100
6898600
10
3200
4355100
4358300
11
6800
1933300
1940100
12
25400
44400
69800
13
80000
8700
88700
14
244800
1900
246700
15
530400
700
531100
16
958500
300
958800
17
1643400
0
1643400
18
2337300
0
2337300
19
3038600
0
3038600
20
3743600
0
3743600
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.