This page reflects NEO 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 — NEO
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $10.00 (5.90 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$10.00
Nearest expiry
Expected Move
±$0.92
±5.8%
Days to Expiry
3
Calendar days
Total Call OI
2,800
Nearest expiry
Total Put OI
216
Nearest expiry
P/C OI Ratio
0.08
Put-heavy
Spot Price
$15.90
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
$9.00
6/18/2026, 11:23:32 PM
2026-07-17
$13.00
7/17/2026, 11:24:18 PM
2026-08-21NextUpdated
$10.00
8/18/2026, 11:23:07 PM
2026-09-18
$14.00
8/18/2026, 11:23:07 PM
2026-11-20
$7.00
8/18/2026, 11:23:07 PM
2026-12-18
$10.00
8/18/2026, 11:23:07 PM
2027-02-19
$13.00
8/18/2026, 11:23:07 PM
Selected expiration: 2026-08-21 at max pain $10.00.
NEO pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
4
0
141100
141100
5
0
119500
119500
7
0
76300
76300
8
100
54700
54800
9
500
34600
35100
10
3100
24600
27700
11
12400
18500
30900
12
31100
12600
43700
13
52800
7000
59800
14
77100
2600
79700
15
265900
1100
267000
16
467800
400
468200
17
736600
100
736700
18
1011800
0
1011800
19
1288900
0
1288900
20
1566000
0
1566000
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.