This page reflects KOD 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 — KOD
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $40.00 (0.65 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$3.08
±7.6%
Days to Expiry
3
Calendar days
Total Call OI
4,027
Nearest expiry
Total Put OI
684
Nearest expiry
P/C OI Ratio
0.17
Put-heavy
Spot Price
$40.65
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
$30.00
6/18/2026, 11:23:17 PM
2026-07-17
$34.00
7/17/2026, 11:22:38 PM
2026-08-21NextUpdated
$40.00
8/18/2026, 11:18:39 PM
2026-09-18
$35.00
8/18/2026, 11:18:39 PM
2026-10-16
$40.00
8/18/2026, 11:18:39 PM
2026-12-18
$32.00
8/18/2026, 11:18:39 PM
2027-01-15
$20.00
8/18/2026, 11:18:39 PM
2027-03-19
$25.00
8/18/2026, 11:18:39 PM
Selected expiration: 2026-08-21 at max pain $40.00.
KOD pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
1165000
1165000
25
1500
823000
824500
26
1800
755100
756900
27
2100
687300
689400
28
2400
619500
621900
29
2700
552500
555200
30
3000
485600
488600
31
3500
420700
424200
32
4000
355900
359900
33
4500
291300
295800
35
5500
162900
168400
36
6200
103300
109500
37
6900
54500
61400
39
11500
22300
33800
40
13900
6400
20300
41
70100
1700
71800
42
127300
1200
128500
44
242700
400
243100
45
300900
0
300900
46
641300
0
641300
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.