This page reflects KMI 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 — KMI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $32.00 (0.87 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$32.00
Nearest expiry
Expected Move
±$0.57
±1.7%
Days to Expiry
3
Calendar days
Total Call OI
25,436
Nearest expiry
Total Put OI
7,464
Nearest expiry
P/C OI Ratio
0.29
Put-heavy
Spot Price
$32.87
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
2026-08-07
$31.50
8/7/2026, 11:20:05 PM
2026-08-14
$31.50
8/14/2026, 11:18:23 PM
2026-08-21NextUpdated
$32.00
8/18/2026, 11:21:35 PM
2026-08-28
$32.00
8/18/2026, 11:21:35 PM
2026-09-04
$32.00
8/18/2026, 11:21:35 PM
2026-09-11
$31.00
8/18/2026, 11:21:35 PM
2026-09-18
$31.00
8/18/2026, 11:21:35 PM
2026-09-25
$32.00
8/18/2026, 11:21:35 PM
2026-10-02
$32.00
8/18/2026, 11:21:35 PM
2026-12-18
$30.00
8/18/2026, 11:21:35 PM
2027-01-15
$30.00
8/18/2026, 11:21:35 PM
2027-03-19
$32.00
8/18/2026, 11:21:35 PM
2027-06-17
$32.00
8/18/2026, 11:21:35 PM
Selected expiration: 2026-08-21 at max pain $32.00.
KMI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
7945950
7945950
25
0
4216450
4216450
26
300
3479850
3480150
27
800
2744250
2745050
28
2900
2025950
2028850
28.5
6300
1669100
1675400
29
9700
1315250
1324950
29.5
16200
969850
986050
30
22700
667600
690300
30.5
30750
465750
496500
31
42600
287750
330350
31.5
59350
167600
226950
32
90350
57700
148050
32.5
291800
28000
319800
33
524050
7750
531800
33.5
924100
6000
930100
34
1425150
4250
1429400
34.5
2214800
2650
2217450
35
3046600
1100
3047700
35.5
4292250
900
4293150
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.