This page reflects MPT options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 19, 2026 close
Max Pain — MPT
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $4.50 (0.34 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$4.50
Nearest expiry
Expected Move
±$0.18
±4.3%
Days to Expiry
2
Calendar days
Total Call OI
14,399
Nearest expiry
Total Put OI
4,822
Nearest expiry
P/C OI Ratio
0.33
Put-heavy
Spot Price
$4.16
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
2026-08-07
$4.50
8/7/2026, 11:27:28 PM
2026-08-14
$4.50
8/14/2026, 11:24:41 PM
2026-08-21NextUpdated
$4.50
8/19/2026, 11:23:53 PM
2026-08-28
$4.00
8/19/2026, 11:23:53 PM
2026-09-04
$1.50
8/19/2026, 11:23:53 PM
2026-09-11
$4.00
8/19/2026, 11:23:53 PM
2026-09-18
$4.50
8/19/2026, 11:23:53 PM
2026-09-25
$1.00
8/19/2026, 11:23:53 PM
2026-10-02
$0.50
8/19/2026, 11:23:53 PM
2026-10-16
$4.00
8/19/2026, 11:23:53 PM
2027-01-15
$5.00
8/19/2026, 11:23:53 PM
2027-03-19
$5.50
8/19/2026, 11:23:53 PM
2027-06-17
$4.50
8/19/2026, 11:23:53 PM
Selected expiration: 2026-08-21 at max pain $4.50.
MPT pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
1818600
1818600
1
10900
1577850
1588750
1.5
25400
1337600
1363000
2
39950
1097350
1137300
2.5
55000
857150
912150
3
72650
617000
689650
3.5
90350
384950
475300
4
108150
154050
262200
4.5
161150
36900
198050
5
318950
350
319300
5.5
1002100
200
1002300
6
1721750
150
1721900
7.5
3881000
0
3881000
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.