Annaly Capital Management Inc.Close $23.40EOD only
Max Pain
$23.00
Next expiry Aug 21, 2026
Expected Move
±$0.34
1.4% from close
Price Gap
-0.40
Distance to max pain
IV Rank
17
Low premium
P/C OI
1.25
Slightly put-heavy
Consensus
—
No reports available
Published snapshot: Aug 18, 2026 close
End-of-day snapshot
This page reflects NLY 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 — NLY
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $23.00 (0.40 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$23.00
Nearest expiry
Expected Move
±$0.34
±1.4%
Days to Expiry
3
Calendar days
Total Call OI
14,095
Nearest expiry
Total Put OI
31,285
Nearest expiry
P/C OI Ratio
2.22
Put-heavy
Spot Price
$23.40
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
2026-08-07
$22.50
8/7/2026, 11:23:34 PM
2026-08-14
$22.50
8/14/2026, 11:25:38 PM
2026-08-21NextUpdated
$23.00
8/18/2026, 11:28:58 PM
2026-08-28
$23.00
8/18/2026, 11:28:58 PM
2026-09-04
$23.00
8/18/2026, 11:28:58 PM
2026-09-11
$23.00
8/18/2026, 11:28:58 PM
2026-09-18
$23.00
8/18/2026, 11:28:58 PM
2026-09-25
$23.00
8/18/2026, 11:28:58 PM
2026-10-02
$22.50
8/18/2026, 11:28:58 PM
2026-10-16
$23.00
8/18/2026, 11:28:58 PM
2027-01-15
$22.00
8/18/2026, 11:28:58 PM
Selected expiration: 2026-08-21 at max pain $23.00.
NLY pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
14
0
26070550
26070550
15
900
22944650
22945550
17
4500
16692850
16697350
18
6500
13567150
13573650
18.5
7700
12007500
12015200
19
9150
10447850
10457000
19.5
10750
8888650
8899400
20
12350
7329450
7341800
20.5
14050
5794800
5808850
21
15800
4261300
4277100
21.5
17750
2756850
2774600
22
20500
1254550
1275050
22.5
45950
436350
482300
23
80900
7250
88150
23.5
480900
800
481700
24
1075250
250
1075500
24.5
1764700
200
1764900
25
2456700
150
2456850
25.5
3158750
100
3158850
26
3860800
50
3860850
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.