This page reflects MDLN 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 — MDLN
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $37.50 (3.38 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$37.50
Nearest expiry
Expected Move
±$2.70
±7.9%
Days to Expiry
3
Calendar days
Total Call OI
15,836
Nearest expiry
Total Put OI
9,822
Nearest expiry
P/C OI Ratio
0.62
Put-heavy
Spot Price
$34.12
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
$35.00
6/18/2026, 11:22:20 PM
2026-07-17
$40.00
7/17/2026, 11:23:13 PM
2026-08-21NextUpdated
$37.50
8/18/2026, 11:22:01 PM
2026-09-18
$35.00
8/18/2026, 11:22:01 PM
2026-11-20
$40.00
8/18/2026, 11:22:01 PM
2027-01-15
$35.00
8/18/2026, 11:22:01 PM
2027-02-19
$35.00
8/18/2026, 11:22:01 PM
Selected expiration: 2026-08-21 at max pain $37.50.
MDLN pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
14884250
14884250
22.5
2250
12445250
12447500
25
5250
10062250
10067500
27.5
9500
7689500
7699000
30
14250
5318750
5333000
32.5
27000
3095500
3122500
35
40750
1647000
1687750
37.5
113250
783500
896750
40
815000
496750
1311750
42.5
1746750
240250
1987000
45
2976250
1500
2977750
47.5
5485750
1250
5487000
50
8096250
1000
8097250
55
13895250
500
13895750
60
19780750
0
19780750
65
27662250
0
27662250
70
35577750
0
35577750
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.