This page reflects LMT 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 — LMT
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $575.00 (32.17 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$575.00
Nearest expiry
Expected Move
±$14.30
±2.4%
Days to Expiry
3
Calendar days
Total Call OI
8,894
Nearest expiry
Total Put OI
12,051
Nearest expiry
P/C OI Ratio
1.35
Put-heavy
Spot Price
$607.17
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
$565.00
8/7/2026, 11:20:27 PM
2026-08-14
$580.00
8/14/2026, 11:18:40 PM
2026-08-21NextUpdated
$575.00
8/18/2026, 11:20:57 PM
2026-08-28
$570.00
8/18/2026, 11:20:57 PM
2026-09-04
$595.00
8/18/2026, 11:20:57 PM
2026-09-11
$585.00
8/18/2026, 11:20:57 PM
2026-09-18
$555.00
8/18/2026, 11:20:57 PM
2026-09-25
$595.00
8/18/2026, 11:20:57 PM
2026-10-02
$575.00
8/18/2026, 11:20:57 PM
2026-11-20
$530.00
8/18/2026, 11:20:57 PM
2026-12-18
$520.00
8/18/2026, 11:20:57 PM
2027-01-15
$520.00
8/18/2026, 11:20:57 PM
2027-03-19
$510.00
8/18/2026, 11:20:57 PM
2027-05-21
$520.00
8/18/2026, 11:20:57 PM
2027-06-17
$580.00
8/18/2026, 11:20:57 PM
Selected expiration: 2026-08-21 at max pain $575.00.
LMT pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
380
0
114911500
114911500
385
0
109304000
109304000
390
0
103914500
103914500
395
0
98622000
98622000
400
0
93406500
93406500
405
0
88420000
88420000
410
0
83525000
83525000
415
0
78675000
78675000
420
0
73922000
73922000
425
0
69172500
69172500
430
0
64544000
64544000
435
0
59971500
59971500
440
500
55640000
55640500
445
1000
51866500
51867500
450
1500
48381000
48382500
455
4500
45467500
45472000
460
12500
42565500
42578000
465
20500
39689500
39710000
470
28500
36897500
36926000
475
37500
34212500
34250000
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.