This page reflects LNC 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 — LNC
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $42.50 (2.58 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$42.50
Nearest expiry
Expected Move
±$1.05
±2.3%
Days to Expiry
3
Calendar days
Total Call OI
5,372
Nearest expiry
Total Put OI
6,151
Nearest expiry
P/C OI Ratio
1.15
Put-heavy
Spot Price
$45.08
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
$35.00
6/18/2026, 11:24:21 PM
2026-07-17
$37.50
7/17/2026, 11:24:09 PM
2026-08-21NextUpdated
$42.50
8/18/2026, 11:20:09 PM
2026-09-18
$37.50
8/18/2026, 11:20:09 PM
2026-10-16
$40.00
8/18/2026, 11:20:09 PM
2026-11-20
$40.00
8/18/2026, 11:20:09 PM
2026-12-18
$40.00
8/18/2026, 11:20:09 PM
2027-01-15
$40.00
8/18/2026, 11:20:09 PM
2027-03-19
$30.00
8/18/2026, 11:20:09 PM
2027-06-17
$40.00
8/18/2026, 11:20:09 PM
Selected expiration: 2026-08-21 at max pain $42.50.
LNC pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
11596250
11596250
22.5
500
10059000
10059500
25
1000
8523250
8524250
27.5
1500
6988500
6990000
30
2000
5455250
5457250
32.5
3000
4006750
4009750
35
4500
2586500
2591000
37.5
44500
1641500
1686000
40
111500
758750
870250
42.5
300250
312500
612750
45
718750
9250
728000
47.5
1389500
0
1389500
50
2356750
0
2356750
55
5039750
0
5039750
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.