This page reflects NGL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 19, 2026 close
Max Pain — NGL
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $14.00 (2.93 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$14.00
Nearest expiry
Expected Move
±$0.68
±4.0%
Days to Expiry
2
Calendar days
Total Call OI
1,380
Nearest expiry
Total Put OI
164
Nearest expiry
P/C OI Ratio
0.12
Put-heavy
Spot Price
$16.93
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
$15.00
6/18/2026, 11:22:04 PM
2026-07-17
$10.00
7/17/2026, 11:24:49 PM
2026-08-21NextUpdated
$14.00
8/19/2026, 11:21:07 PM
2026-09-18
$12.00
8/19/2026, 11:21:07 PM
2026-10-16
$10.00
8/19/2026, 11:21:07 PM
2027-01-15
$12.00
8/19/2026, 11:21:07 PM
Selected expiration: 2026-08-21 at max pain $14.00.
NGL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
9
0
99500
99500
10
0
83700
83700
12
0
52900
52900
13
10000
37500
47500
14
20000
22400
42400
15
31000
12100
43100
16
72300
4900
77200
17
134000
2300
136300
18
223400
1600
225000
19
356800
1000
357800
20
492300
600
492900
21
628400
400
628800
22
766300
200
766500
23
904300
0
904300
24
1042300
0
1042300
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.