This page reflects LII 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 — LII
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $430.00 (18.95 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$430.00
Nearest expiry
Expected Move
±$12.50
±3.0%
Days to Expiry
3
Calendar days
Total Call OI
228
Nearest expiry
Total Put OI
220
Nearest expiry
P/C OI Ratio
0.96
Put-heavy
Spot Price
$411.05
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
$500.00
6/18/2026, 11:20:56 PM
2026-07-17
$520.00
7/17/2026, 11:23:15 PM
2026-08-21NextUpdated
$430.00
8/18/2026, 11:20:16 PM
2026-09-18
$450.00
8/18/2026, 11:20:16 PM
2026-12-18
$500.00
8/18/2026, 11:20:16 PM
2027-03-19
$420.00
8/18/2026, 11:20:16 PM
Selected expiration: 2026-08-21 at max pain $430.00.
LII pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
350
0
1424000
1424000
370
0
988000
988000
380
0
796000
796000
390
0
607000
607000
400
0
459000
459000
410
17000
338000
355000
420
40000
282000
322000
430
69000
243000
312000
440
130000
214000
344000
450
209000
189000
398000
460
298000
168000
466000
470
390000
147000
537000
480
484000
126000
610000
490
581000
105000
686000
500
680000
84000
764000
510
779000
63000
842000
520
878000
42000
920000
530
979000
21000
1000000
540
1082000
0
1082000
550
1207000
0
1207000
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.