This page reflects MXL 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 — MXL
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $75.00 (2.37 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$75.00
Nearest expiry
Expected Move
±$6.30
±8.7%
Days to Expiry
3
Calendar days
Total Call OI
24,685
Nearest expiry
Total Put OI
11,030
Nearest expiry
P/C OI Ratio
0.45
Put-heavy
Spot Price
$72.63
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
$80.00
6/18/2026, 11:21:39 PM
2026-07-17
$90.00
7/17/2026, 11:23:36 PM
2026-08-21NextUpdated
$75.00
8/18/2026, 11:22:41 PM
2026-09-18
$70.00
8/18/2026, 11:22:41 PM
2026-12-18
$47.00
8/18/2026, 11:22:41 PM
2027-01-15
$70.00
8/18/2026, 11:22:41 PM
2027-03-19
$45.00
8/18/2026, 11:22:41 PM
2027-06-17
$90.00
8/18/2026, 11:22:41 PM
Selected expiration: 2026-08-21 at max pain $75.00.
MXL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
32339000
32339000
40
0
26832000
26832000
45
796500
22023000
22819500
50
1595500
17558000
19153500
55
2413000
13528500
15941500
60
3256000
9780000
13036000
65
4770500
6504500
11275000
70
6606000
4076000
10682000
75
8661000
1933000
10594000
80
10966500
970000
11936500
85
14361000
488000
14849000
90
18419500
227500
18647000
95
24394000
92000
24486000
100
31517000
28500
31545500
105
40087500
9500
40097000
110
49894500
3500
49898000
115
59978000
2000
59980000
120
70184000
1000
70185000
125
80792500
500
80793000
130
91656000
0
91656000
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.