This page reflects MSCI 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 — MSCI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $570.00 (7.23 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$570.00
Nearest expiry
Expected Move
±$12.38
±2.2%
Days to Expiry
3
Calendar days
Total Call OI
2,260
Nearest expiry
Total Put OI
2,760
Nearest expiry
P/C OI Ratio
1.22
Put-heavy
Spot Price
$562.77
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
$600.00
6/18/2026, 11:27:18 PM
2026-07-17
$580.00
7/17/2026, 11:23:35 PM
2026-08-21NextUpdated
$570.00
8/18/2026, 11:28:40 PM
2026-09-18
$580.00
8/18/2026, 11:28:40 PM
2026-10-16
$560.00
8/18/2026, 11:28:40 PM
2026-12-18
$590.00
8/18/2026, 11:28:40 PM
2027-03-19
$550.00
8/18/2026, 11:28:40 PM
Selected expiration: 2026-08-21 at max pain $570.00.
MSCI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
320
0
58547000
58547000
330
0
55787000
55787000
350
0
50269000
50269000
360
0
47511000
47511000
380
0
41997000
41997000
390
0
39240000
39240000
400
0
36485000
36485000
410
0
33732000
33732000
420
0
30982000
30982000
430
0
28233000
28233000
440
0
25498000
25498000
450
0
22774000
22774000
460
0
20114000
20114000
470
0
17509000
17509000
480
0
14912000
14912000
490
0
12339000
12339000
500
0
9816000
9816000
510
0
7633000
7633000
520
0
5705000
5705000
530
0
4231000
4231000
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.