This page reflects MTN 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 — MTN
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $145.00 (4.78 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$145.00
Nearest expiry
Expected Move
±$4.25
±2.8%
Days to Expiry
3
Calendar days
Total Call OI
1,859
Nearest expiry
Total Put OI
1,628
Nearest expiry
P/C OI Ratio
0.88
Put-heavy
Spot Price
$149.78
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
$130.00
6/18/2026, 11:24:26 PM
2026-07-17
$140.00
7/17/2026, 11:26:02 PM
2026-08-21NextUpdated
$145.00
8/18/2026, 11:24:33 PM
2026-09-18
$140.00
8/18/2026, 11:24:33 PM
2026-10-16
$140.00
8/18/2026, 11:24:33 PM
2026-11-20
$130.00
8/18/2026, 11:24:33 PM
2027-01-15
$150.00
8/18/2026, 11:24:33 PM
Selected expiration: 2026-08-21 at max pain $145.00.
MTN pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
95
0
6709500
6709500
100
0
5915500
5915500
105
0
5144000
5144000
115
1000
3616000
3617000
120
1500
2874000
2875500
125
2000
2159000
2161000
130
5500
1501500
1507000
135
9500
887000
896500
140
29000
396000
425000
145
60000
158000
218000
150
190500
76000
266500
155
451000
36500
487500
160
778500
2000
780500
165
1439000
1500
1440500
170
2220500
1000
2221500
175
3114500
500
3115000
180
4010500
0
4010500
185
4913000
0
4913000
190
5829500
0
5829500
195
6756500
0
6756500
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.