This page reflects MARA options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 17, 2026 close
Max Pain — MARA
Data as of market close Aug 17, 2026
Nearest listed expiration 2026-08-21 shows max pain at $9.50 (0.22 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$9.50
Nearest expiry
Expected Move
±$0.74
±7.7%
Days to Expiry
4
Calendar days
Total Call OI
246,151
Nearest expiry
Total Put OI
89,600
Nearest expiry
P/C OI Ratio
0.36
Put-heavy
Spot Price
$9.72
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
$11.50
8/7/2026, 11:22:01 PM
2026-08-14
$9.50
8/14/2026, 11:20:42 PM
2026-08-21NextUpdated
$9.50
8/17/2026, 11:20:26 PM
2026-08-28
$10.00
8/17/2026, 11:20:26 PM
2026-09-04
$10.00
8/17/2026, 11:20:26 PM
2026-09-11
$10.50
8/17/2026, 11:20:26 PM
2026-09-18
$11.00
8/17/2026, 11:20:26 PM
2026-09-25
$10.50
8/17/2026, 11:20:26 PM
2026-10-02
$11.00
8/17/2026, 11:20:26 PM
2026-10-16
$8.00
8/17/2026, 11:20:26 PM
2026-11-20
$10.00
8/17/2026, 11:20:26 PM
2026-12-18
$11.00
8/17/2026, 11:20:26 PM
2027-01-15
$12.00
8/17/2026, 11:20:26 PM
2027-03-19
$9.00
8/17/2026, 11:20:26 PM
2027-06-17
$13.00
8/17/2026, 11:20:26 PM
Selected expiration: 2026-08-21 at max pain $9.50.
MARA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
83238650
83238650
2
9500
74279350
74288850
3
22800
65320050
65342850
4
38900
56369050
56407950
5
58000
47418550
47476550
6
79000
38491750
38570750
7
103000
29593450
29696450
7.5
125600
25202100
25327700
8
148650
20819700
20968350
8.5
191100
16707400
16898500
9
248450
13122400
13370850
9.5
436250
10198750
10635000
10
3307300
7909100
11216400
10.5
7095050
6319300
13414350
11
13294700
4861750
18156450
11.5
19860000
3663600
23523600
12
26544450
2725500
29269950
12.5
33958200
1988500
35946700
13
41446600
1322400
42769000
13.5
49685500
729550
50415050
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.