This page reflects MCO 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 — MCO
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $480.00 (5.79 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$480.00
Nearest expiry
Expected Move
±$10.48
±2.2%
Days to Expiry
3
Calendar days
Total Call OI
5,066
Nearest expiry
Total Put OI
3,456
Nearest expiry
P/C OI Ratio
0.68
Put-heavy
Spot Price
$485.79
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
$450.00
6/18/2026, 11:19:58 PM
2026-07-17
$460.00
7/17/2026, 11:20:51 PM
2026-08-21NextUpdated
$480.00
8/18/2026, 11:25:25 PM
2026-09-18
$490.00
8/18/2026, 11:25:25 PM
2026-11-20
$460.00
8/18/2026, 11:25:25 PM
2027-01-15
$460.00
8/18/2026, 11:25:25 PM
2027-02-19
$470.00
8/18/2026, 11:25:25 PM
Selected expiration: 2026-08-21 at max pain $480.00.
MCO pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
220
0
72313000
72313000
240
2000
65421000
65423000
250
4000
61975000
61979000
260
6000
58531000
58537000
270
8000
55087000
55095000
280
10000
51647000
51657000
290
12000
48207000
48219000
300
14000
44767000
44781000
310
16000
41327000
41343000
320
18000
37929000
37947000
330
20000
34597000
34617000
340
22000
31287000
31309000
350
24000
28008000
28032000
360
26000
24782000
24808000
370
28000
21712000
21740000
380
30000
18667000
18697000
390
32000
15666000
15698000
400
35000
12768000
12803000
410
58000
10156000
10214000
420
151000
7604000
7755000
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.