This page reflects NRGV 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 — NRGV
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $3.50 (0.15 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$3.50
Nearest expiry
Expected Move
±$0.40
±11.0%
Days to Expiry
3
Calendar days
Total Call OI
29,638
Nearest expiry
Total Put OI
17,071
Nearest expiry
P/C OI Ratio
0.58
Put-heavy
Spot Price
$3.65
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
$4.00
6/18/2026, 11:25:07 PM
2026-07-17
$4.00
7/17/2026, 11:25:11 PM
2026-08-21NextUpdated
$3.50
8/18/2026, 11:26:14 PM
2026-09-18
$3.00
8/18/2026, 11:26:14 PM
2026-11-20
$5.00
8/18/2026, 11:26:14 PM
2027-01-15
$3.00
8/18/2026, 11:26:14 PM
2027-02-19
$3.00
8/18/2026, 11:26:14 PM
Selected expiration: 2026-08-21 at max pain $3.50.
NRGV pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
5641400
5641400
1
300
4788000
4788300
1.5
3700
3935400
3939100
2
7300
3082800
3090100
2.5
13300
2237550
2250850
3
37700
1454100
1491800
3.5
488950
792200
1281150
4
1076600
456400
1533000
4.5
1861050
184000
2045050
5
2652600
11600
2664200
5.5
3685900
8900
3694800
6
4721100
6200
4727300
7
7132800
900
7133700
8
9605700
600
9606300
9
12103200
400
12103600
10
14722100
200
14722300
11
17683000
0
17683000
12
20644600
0
20644600
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.