This page reflects MAT 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 — MAT
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $14.00 (0.50 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$14.00
Nearest expiry
Expected Move
±$0.80
±5.5%
Days to Expiry
3
Calendar days
Total Call OI
7,551
Nearest expiry
Total Put OI
20,891
Nearest expiry
P/C OI Ratio
2.77
Put-heavy
Spot Price
$14.50
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
$15.00
6/18/2026, 11:19:36 PM
2026-07-17
$14.00
7/17/2026, 11:21:10 PM
2026-08-21NextUpdated
$14.00
8/18/2026, 11:22:31 PM
2026-09-18
$14.00
8/18/2026, 11:22:31 PM
2026-10-16
$15.00
8/18/2026, 11:22:31 PM
2026-11-20
$15.00
8/18/2026, 11:22:31 PM
2027-01-15
$13.00
8/18/2026, 11:22:31 PM
2027-03-19
$15.00
8/18/2026, 11:22:31 PM
Selected expiration: 2026-08-21 at max pain $14.00.
MAT pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
26450600
26450600
2
1300
24361500
24362800
3
2600
22272400
22275000
4
4100
20183500
20187600
5
6600
18094800
18101400
6
9200
16006300
16015500
7
12200
13917900
13930100
8
15300
11829800
11845100
9
18700
9741900
9760600
10
22200
7654000
7676200
11
34900
5573500
5608400
12
51100
3499500
3550600
13
67500
1699400
1766900
14
88300
38600
126900
15
224200
4300
228500
16
565400
2400
567800
17
1182800
1600
1184400
18
1925000
1100
1926100
19
2671100
600
2671700
20
3417500
200
3417700
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.