This page reflects MORN 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 — MORN
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $200.00 (8.73 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$200.00
Nearest expiry
Expected Move
±$2.50
±1.2%
Days to Expiry
3
Calendar days
Total Call OI
125
Nearest expiry
Total Put OI
596
Nearest expiry
P/C OI Ratio
4.77
Put-heavy
Spot Price
$208.73
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
$170.00
6/18/2026, 11:21:46 PM
2026-07-17
$165.00
7/17/2026, 11:22:46 PM
2026-08-21NextUpdated
$200.00
8/18/2026, 11:27:38 PM
2026-09-18
$170.00
8/18/2026, 11:27:38 PM
2026-12-18
$175.00
8/18/2026, 11:27:38 PM
2027-03-19
$200.00
8/18/2026, 11:27:38 PM
Selected expiration: 2026-08-21 at max pain $200.00.
MORN pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
120
0
2484500
2484500
125
0
2187000
2187000
130
0
1891000
1891000
135
0
1602500
1602500
140
0
1319000
1319000
145
0
1050500
1050500
150
0
873000
873000
155
500
753500
754000
160
1000
635000
636000
165
1500
517000
518500
170
3000
399500
402500
175
5000
282000
287000
180
14500
165000
179500
190
40500
81000
121500
195
59000
40500
99500
200
81500
0
81500
210
137500
0
137500
220
214500
0
214500
230
337500
0
337500
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.