This page reflects MBI 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 — MBI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $5.00 (0.03 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$5.00
Nearest expiry
Expected Move
±$0.25
±5.0%
Days to Expiry
3
Calendar days
Total Call OI
6,311
Nearest expiry
Total Put OI
6,980
Nearest expiry
P/C OI Ratio
1.11
Put-heavy
Spot Price
$4.97
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
$6.00
6/18/2026, 11:22:06 PM
2026-07-17
$6.00
7/17/2026, 11:21:54 PM
2026-08-21NextUpdated
$5.00
8/18/2026, 11:21:41 PM
2026-09-18
$6.00
8/18/2026, 11:21:41 PM
2026-11-20
$7.00
8/18/2026, 11:21:41 PM
2026-12-18
$7.00
8/18/2026, 11:21:41 PM
2027-01-15
$5.00
8/18/2026, 11:21:41 PM
2027-02-19
$5.00
8/18/2026, 11:21:41 PM
Selected expiration: 2026-08-21 at max pain $5.00.
MBI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
2819900
2819900
2
400
2121900
2122300
3
1100
1423900
1425000
4
2000
725900
727900
5
3200
31900
35100
6
180500
4500
185000
7
482000
1900
483900
8
995500
1400
996900
9
1618900
900
1619800
10
2245500
600
2246100
11
2876100
400
2876500
12
3507100
200
3507300
13
4138100
0
4138100
14
4769100
0
4769100
15
5400200
0
5400200
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.