This page reflects MSI 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 — MSI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $420.00 (49.50 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$420.00
Nearest expiry
Expected Move
±$7.95
±1.7%
Days to Expiry
3
Calendar days
Total Call OI
2,687
Nearest expiry
Total Put OI
1,485
Nearest expiry
P/C OI Ratio
0.55
Put-heavy
Spot Price
$469.50
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
$400.00
6/18/2026, 11:22:22 PM
2026-07-17
$400.00
7/17/2026, 11:23:17 PM
2026-08-21NextUpdated
$420.00
8/18/2026, 11:22:25 PM
2026-09-18
$440.00
8/18/2026, 11:22:25 PM
2026-10-16
$430.00
8/18/2026, 11:22:25 PM
2027-01-15
$380.00
8/18/2026, 11:22:25 PM
Selected expiration: 2026-08-21 at max pain $420.00.
MSI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
280
0
16588000
16588000
290
0
15104000
15104000
300
0
13630000
13630000
320
0
10692000
10692000
330
0
9226000
9226000
340
0
7781000
7781000
350
0
6345000
6345000
360
0
4925000
4925000
370
0
3741000
3741000
380
0
2796000
2796000
390
2000
2115000
2117000
400
4000
1497000
1501000
410
138000
1074000
1212000
420
322000
727000
1049000
430
806000
471000
1277000
440
1431000
268000
1699000
450
2655000
116000
2771000
460
4467000
45000
4512000
470
6652000
5000
6657000
480
9143000
0
9143000
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.