This page reflects MATX 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 — MATX
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $200.00 (18.28 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$200.00
Nearest expiry
Expected Move
±$7.00
±3.2%
Days to Expiry
3
Calendar days
Total Call OI
263
Nearest expiry
Total Put OI
110
Nearest expiry
P/C OI Ratio
0.42
Put-heavy
Spot Price
$218.28
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
$150.00
6/18/2026, 11:20:46 PM
2026-07-17
$195.00
7/17/2026, 11:20:24 PM
2026-08-21NextUpdated
$200.00
8/18/2026, 11:26:09 PM
2026-09-18
$190.00
8/18/2026, 11:26:09 PM
2026-12-18
$200.00
8/18/2026, 11:26:09 PM
2027-01-15
$120.00
8/18/2026, 11:26:09 PM
2027-03-19
$175.00
8/18/2026, 11:26:09 PM
Selected expiration: 2026-08-21 at max pain $200.00.
MATX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
150
0
470000
470000
155
0
415500
415500
160
0
363000
363000
170
0
262000
262000
175
500
211500
212000
180
1000
162500
163500
185
1500
114000
115500
190
2000
66500
68500
195
5500
47000
52500
200
13000
30000
43000
210
41000
9000
50000
220
80000
1000
81000
230
132000
0
132000
240
374000
0
374000
250
630000
0
630000
260
889000
0
889000
270
1151000
0
1151000
300
1937000
0
1937000
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.