This page reflects LPG 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 — LPG
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $41.50 (7.25 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$41.50
Nearest expiry
Expected Move
±$1.55
±3.2%
Days to Expiry
3
Calendar days
Total Call OI
6,862
Nearest expiry
Total Put OI
552
Nearest expiry
P/C OI Ratio
0.08
Put-heavy
Spot Price
$48.75
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
$25.15
6/18/2026, 11:21:19 PM
2026-07-17
$39.00
7/17/2026, 11:20:19 PM
2026-08-21NextUpdated
$41.50
8/18/2026, 11:21:13 PM
2026-09-18
$27.50
8/18/2026, 11:21:13 PM
2026-12-18
$35.50
8/18/2026, 11:21:13 PM
2027-03-19
$26.50
8/18/2026, 11:21:13 PM
Selected expiration: 2026-08-21 at max pain $41.50.
LPG pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
24
0
425000
425000
25
0
380000
380000
31.5
0
152500
152500
32.5
100
128100
128200
34
400
107550
107950
35
700
94650
95350
36.5
1300
76950
78250
37.5
3000
65550
68550
39
7500
48900
56400
40
12600
38400
51000
41.5
23550
23400
46950
42.5
36450
16100
52550
44
57000
5900
62900
45
94200
4300
98500
46.5
150150
2200
152350
47.5
388950
1600
390550
49
752100
850
752950
50
1421800
450
1422250
51.5
2434450
0
2434450
59
7574950
0
7574950
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.