Nearest listed expiration 2026-08-21 shows max pain at $95.00 (2.68 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$95.00
Nearest expiry
Expected Move
±$6.07
±6.2%
Days to Expiry
4
Calendar days
Total Call OI
369,224
Nearest expiry
Total Put OI
277,265
Nearest expiry
P/C OI Ratio
0.75
Put-heavy
Spot Price
$97.68
Published close
Consensus
6.5/10
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
$94.00
8/7/2026, 11:26:09 PM
2026-08-14
$95.00
8/14/2026, 11:21:35 PM
2026-08-21NextUpdated
$95.00
8/17/2026, 11:25:32 PM
2026-08-28
$100.00
8/17/2026, 11:25:32 PM
2026-09-04
$100.00
8/17/2026, 11:25:32 PM
2026-09-11
$105.00
8/17/2026, 11:25:32 PM
2026-09-18
$100.00
8/17/2026, 11:25:32 PM
2026-09-25
$97.00
8/17/2026, 11:25:32 PM
2026-10-02
$95.00
8/17/2026, 11:25:32 PM
2026-10-16
$95.00
8/17/2026, 11:25:32 PM
2026-11-20
$150.00
8/17/2026, 11:25:32 PM
2026-12-18
$160.00
8/17/2026, 11:25:32 PM
2027-01-15
$150.00
8/17/2026, 11:25:32 PM
2027-03-19
$140.00
8/17/2026, 11:25:32 PM
2027-06-17
$140.00
8/17/2026, 11:25:32 PM
Selected expiration: 2026-08-21 at max pain $95.00.
MSTR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
1739795200
1739795200
10
45500
1607335200
1607380700
15
95000
1475670700
1475765700
20
148000
1345546700
1345694700
25
202000
1217557700
1217759700
30
271500
1089898700
1090170200
35
2753500
963363700
966117200
40
5247500
840360200
845607700
45
7751500
720795700
728547200
50
10257000
604151200
614408200
55
12793000
509789700
522582700
60
15353500
425129200
440482700
65
18233500
349088200
367321700
70
21201000
278148200
299349200
75
24277000
216944700
241221700
80
27544000
161216200
188760200
81
28241000
151859000
180100000
82
28941600
142668700
171610300
83
29672200
133586500
163258700
84
30405300
124655800
155061100
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.