This page reflects MANH 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 — MANH
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $170.00 (28.38 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$170.00
Nearest expiry
Expected Move
±$7.40
±3.7%
Days to Expiry
3
Calendar days
Total Call OI
483
Nearest expiry
Total Put OI
437
Nearest expiry
P/C OI Ratio
0.90
Put-heavy
Spot Price
$198.38
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
$140.00
6/18/2026, 11:18:52 PM
2026-07-17
$135.00
7/17/2026, 11:26:35 PM
2026-08-21NextUpdated
$170.00
8/18/2026, 11:20:36 PM
2026-09-18
$195.00
8/18/2026, 11:20:36 PM
2026-10-16
$170.00
8/18/2026, 11:20:36 PM
2027-01-15
$180.00
8/18/2026, 11:20:36 PM
Selected expiration: 2026-08-21 at max pain $170.00.
MANH pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
85
0
3200000
3200000
90
0
2982000
2982000
95
0
2764500
2764500
100
0
2549500
2549500
105
0
2336500
2336500
110
0
2125000
2125000
115
0
1914000
1914000
120
0
1704000
1704000
125
0
1511000
1511000
130
0
1339000
1339000
135
0
1173000
1173000
140
0
1008000
1008000
145
1500
862500
864000
150
4000
734500
738500
155
9000
617500
626500
160
16000
504000
520000
165
39000
399000
438000
170
65000
302000
367000
175
149000
231000
380000
180
238500
162000
400500
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.