This page reflects MCD options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 19, 2026 close
Max Pain — MCD
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $270.00 (2.55 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$270.00
Nearest expiry
Expected Move
±$3.85
±1.4%
Days to Expiry
2
Calendar days
Total Call OI
32,116
Nearest expiry
Total Put OI
19,890
Nearest expiry
P/C OI Ratio
0.62
Put-heavy
Spot Price
$267.45
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
$270.00
8/7/2026, 11:20:30 PM
2026-08-14
$272.50
8/14/2026, 11:23:10 PM
2026-08-21NextUpdated
$270.00
8/19/2026, 11:23:21 PM
2026-08-28
$270.00
8/19/2026, 11:23:21 PM
2026-09-04
$275.00
8/19/2026, 11:23:21 PM
2026-09-11
$275.00
8/19/2026, 11:23:21 PM
2026-09-18
$280.00
8/19/2026, 11:23:21 PM
2026-09-25
$270.00
8/19/2026, 11:23:21 PM
2026-10-02
$270.00
8/19/2026, 11:23:21 PM
2026-10-16
$270.00
8/19/2026, 11:23:21 PM
2026-11-20
$280.00
8/19/2026, 11:23:21 PM
2026-12-18
$285.00
8/19/2026, 11:23:21 PM
2027-01-15
$290.00
8/19/2026, 11:23:21 PM
2027-03-19
$280.00
8/19/2026, 11:23:21 PM
2027-06-17
$280.00
8/19/2026, 11:23:21 PM
Selected expiration: 2026-08-21 at max pain $270.00.
MCD pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
150
0
209092000
209092000
155
9000
199157500
199166500
160
45000
189252500
189297500
165
116500
179375000
179491500
170
225000
169544000
169769000
175
366500
159745000
160111500
180
537000
149978000
150515000
185
733500
140304000
141037500
190
951000
130677500
131628500
195
1197000
121155500
122352500
200
1472500
111678500
113151000
205
1764500
102257000
104021500
210
2069500
92913500
94983000
215
2390500
83630500
86021000
220
2726500
74380500
77107000
225
3080500
65328500
68409000
230
3442500
56334000
59776500
235
3813500
47589500
51403000
240
4187000
38951500
43138500
242.5
4375750
34873750
39249500
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.