This page reflects MCY 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 — MCY
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $85.00 (21.32 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$85.00
Nearest expiry
Expected Move
±$3.08
±2.9%
Days to Expiry
3
Calendar days
Total Call OI
537
Nearest expiry
Total Put OI
276
Nearest expiry
P/C OI Ratio
0.51
Put-heavy
Spot Price
$106.32
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
$90.00
6/18/2026, 11:21:50 PM
2026-07-17
$90.00
7/17/2026, 11:24:43 PM
2026-08-21NextUpdated
$85.00
8/18/2026, 11:24:11 PM
2026-09-18
$90.00
8/18/2026, 11:24:11 PM
2026-12-18
$75.00
8/18/2026, 11:24:11 PM
2027-03-19
$85.00
8/18/2026, 11:24:11 PM
Selected expiration: 2026-08-21 at max pain $85.00.
MCY pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
55
0
1092500
1092500
60
0
954500
954500
65
1000
818000
819000
70
4000
682500
686500
75
7000
548000
555000
80
10000
420500
430500
85
13000
296000
309000
90
178500
174500
353000
95
356000
63500
419500
100
542000
35500
577500
105
766000
17500
783500
110
996000
5500
1001500
115
1248000
0
1248000
120
1508500
0
1508500
130
2042500
0
2042500
135
2310500
0
2310500
140
2578500
0
2578500
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.