This page reflects NEU 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 — NEU
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $815.00 (132.02 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$815.00
Nearest expiry
Expected Move
±$11.95
±1.3%
Days to Expiry
3
Calendar days
Total Call OI
14
Nearest expiry
Total Put OI
14
Nearest expiry
P/C OI Ratio
1.00
Put-heavy
Spot Price
$947.02
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
$780.00
6/18/2026, 11:22:11 PM
2026-07-17
$700.00
7/17/2026, 11:24:28 PM
2026-08-21NextUpdated
$815.00
8/18/2026, 11:30:06 PM
2026-09-18
$775.00
8/18/2026, 11:30:06 PM
2026-12-18
$760.00
8/18/2026, 11:30:06 PM
2027-03-19
$860.00
8/18/2026, 11:30:06 PM
Selected expiration: 2026-08-21 at max pain $815.00.
NEU pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
575
0
270000
270000
620
4500
207000
211500
675
10000
146500
156500
740
23000
75000
98000
745
24000
70000
94000
750
25000
65000
90000
760
27000
57000
84000
775
30000
45000
75000
785
32000
38000
70000
790
33000
35500
68500
810
37000
27500
64500
815
38500
25500
64000
855
54500
9500
64000
870
66500
3500
70000
880
74500
2500
77000
885
79000
2000
81000
905
99000
0
99000
910
104500
0
104500
955
158500
0
158500
975
182500
0
182500
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.