This page reflects MGNI 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 — MGNI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $20.00 (4.53 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$20.00
Nearest expiry
Expected Move
±$1.38
±5.6%
Days to Expiry
3
Calendar days
Total Call OI
13,041
Nearest expiry
Total Put OI
3,521
Nearest expiry
P/C OI Ratio
0.27
Put-heavy
Spot Price
$24.53
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
$14.00
6/18/2026, 11:22:54 PM
2026-07-17
$15.00
7/17/2026, 11:24:18 PM
2026-08-21NextUpdated
$20.00
8/18/2026, 11:21:22 PM
2026-09-18
$22.00
8/18/2026, 11:21:22 PM
2026-12-18
$19.00
8/18/2026, 11:21:22 PM
2027-01-15
$15.00
8/18/2026, 11:21:22 PM
2027-02-19
$17.00
8/18/2026, 11:21:22 PM
2027-03-19
$20.00
8/18/2026, 11:21:22 PM
2027-04-16
$20.00
8/18/2026, 11:21:22 PM
2027-05-21
$15.00
8/18/2026, 11:21:22 PM
2027-06-17
$22.00
8/18/2026, 11:21:22 PM
Selected expiration: 2026-08-21 at max pain $20.00.
MGNI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
10
0
3975200
3975200
12
0
3274200
3274200
13
100
2926600
2926700
14
200
2579300
2579500
15
800
2232500
2233300
16
3000
1890500
1893500
17
6700
1555400
1562100
18
10900
1238100
1249000
19
28500
965500
994000
20
76000
700400
776400
21
397200
478600
875800
22
737100
260800
997900
23
1108200
133800
1242000
24
1990300
19600
2009900
25
2897400
9800
2907200
26
3908200
5700
3913900
27
5067300
4500
5071800
28
6272700
3400
6276100
29
7549800
2400
7552200
30
8831900
1700
8833600
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.