This page reflects KEYS options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 17, 2026 close
Max Pain — KEYS
Data as of market close Aug 17, 2026
Nearest listed expiration 2026-08-21 shows max pain at $310.00 (51.15 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$310.00
Nearest expiry
Expected Move
±$32.70
±9.1%
Days to Expiry
4
Calendar days
Total Call OI
4,089
Nearest expiry
Total Put OI
4,033
Nearest expiry
P/C OI Ratio
0.99
Put-heavy
Spot Price
$361.15
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
$330.00
6/18/2026, 11:19:48 PM
2026-07-17
$340.00
7/17/2026, 11:22:33 PM
2026-08-21NextUpdated
$310.00
8/17/2026, 11:21:08 PM
2026-09-18
$310.00
8/17/2026, 11:21:08 PM
2026-10-16
$260.00
8/17/2026, 11:21:08 PM
2026-11-20
$200.00
8/17/2026, 11:21:08 PM
2026-12-18
$320.00
8/17/2026, 11:21:08 PM
2027-02-19
$320.00
8/17/2026, 11:21:08 PM
Selected expiration: 2026-08-21 at max pain $310.00.
KEYS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
115
0
71872500
71872500
120
0
69856000
69856000
125
0
67839500
67839500
130
0
65826000
65826000
135
0
63812500
63812500
140
0
61801000
61801000
145
0
59793500
59793500
150
0
57789000
57789000
155
0
55788000
55788000
160
1000
53788000
53789000
165
2000
51790000
51792000
170
3000
49792000
49795000
175
4000
47799000
47803000
180
5500
45810500
45816000
185
7500
43822500
43830000
190
9500
41838000
41847500
195
14000
39853500
39867500
200
34500
37875000
37909500
210
92500
34091000
34183500
220
178500
30312000
30490500
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.