This page reflects NRG 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 — NRG
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $121.00 (5.44 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$121.00
Nearest expiry
Expected Move
±$4.33
±3.7%
Days to Expiry
3
Calendar days
Total Call OI
22,335
Nearest expiry
Total Put OI
3,723
Nearest expiry
P/C OI Ratio
0.17
Put-heavy
Spot Price
$115.56
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
$125.00
8/7/2026, 11:26:21 PM
2026-08-14
$117.00
8/14/2026, 11:22:20 PM
2026-08-21NextUpdated
$121.00
8/18/2026, 11:29:04 PM
2026-08-28
$118.00
8/18/2026, 11:29:04 PM
2026-09-04
$120.00
8/18/2026, 11:29:04 PM
2026-09-11
$119.00
8/18/2026, 11:29:04 PM
2026-09-18
$135.00
8/18/2026, 11:29:04 PM
2026-09-25
$122.00
8/18/2026, 11:29:04 PM
2026-10-02
$120.00
8/18/2026, 11:29:04 PM
2026-12-18
$130.00
8/18/2026, 11:29:04 PM
2027-01-15
$140.00
8/18/2026, 11:29:04 PM
2027-03-19
$140.00
8/18/2026, 11:29:04 PM
2027-06-17
$140.00
8/18/2026, 11:29:04 PM
Selected expiration: 2026-08-21 at max pain $121.00.
NRG pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
80
0
16039700
16039700
85
0
14181200
14181200
90
0
12324200
12324200
95
0
10470700
10470700
100
0
8654200
8654200
105
13500
6900700
6914200
109
30300
5527100
5557400
110
34600
5183700
5218300
111
39200
4862100
4901300
112
43800
4543000
4586800
113
48800
4224400
4273200
114
53900
3906100
3960000
115
59000
3592900
3651900
116
64900
3324000
3388900
117
75300
3057700
3133000
118
85700
2793600
2879300
119
166400
2555800
2722200
120
247800
2341900
2589700
121
340600
2157300
2497900
122
526900
1976700
2503600
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.