Nearest listed expiration 2026-08-21 shows max pain at $11.00 (0.22 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$11.00
Nearest expiry
Expected Move
±$0.65
±6.0%
Days to Expiry
4
Calendar days
Total Call OI
383,305
Nearest expiry
Total Put OI
180,342
Nearest expiry
P/C OI Ratio
0.47
Put-heavy
Spot Price
$10.78
Published close
Consensus
7.0/10
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
$9.00
8/7/2026, 11:27:18 PM
2026-08-14
$9.50
8/14/2026, 11:24:15 PM
2026-08-21NextUpdated
$11.00
8/17/2026, 11:25:18 PM
2026-08-28
$10.00
8/17/2026, 11:25:18 PM
2026-09-04
$9.50
8/17/2026, 11:25:18 PM
2026-09-11
$10.00
8/17/2026, 11:25:18 PM
2026-09-18
$10.00
8/17/2026, 11:25:18 PM
2026-09-25
$10.00
8/17/2026, 11:25:18 PM
2026-10-02
$10.00
8/17/2026, 11:25:18 PM
2026-10-16
$11.00
8/17/2026, 11:25:18 PM
2026-11-20
$10.00
8/17/2026, 11:25:18 PM
2026-12-18
$12.00
8/17/2026, 11:25:18 PM
2027-01-15
$10.00
8/17/2026, 11:25:18 PM
2027-03-19
$11.00
8/17/2026, 11:25:18 PM
2027-06-17
$12.00
8/17/2026, 11:25:18 PM
Selected expiration: 2026-08-21 at max pain $11.00.
NOK pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
160555100
160555100
2
500
142443700
142444200
3
5200
124332600
124337800
4
11000
106221800
106232800
5
17800
88111400
88129200
6
26000
70012300
70038300
6.5
31850
61102150
61134000
7
38200
52192500
52230700
7.5
59100
43740000
43799100
8
80100
35288500
35368600
8.5
149200
28126000
28275200
9
241100
22397950
22639050
9.5
484200
18090650
18574850
10
1099100
14044050
15143150
10.5
2988650
10588250
13576900
11
5870800
7512100
13382900
11.5
11352000
5066550
16418550
12
17248450
2689400
19937850
12.5
26170700
1853700
28024400
13
35228050
1031450
36259500
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.