This page reflects NRIX 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 — NRIX
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $25.00 (1.93 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$4.90
±18.2%
Days to Expiry
3
Calendar days
Total Call OI
534
Nearest expiry
Total Put OI
365
Nearest expiry
P/C OI Ratio
0.68
Put-heavy
Spot Price
$26.93
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
$16.00
6/18/2026, 11:24:34 PM
2026-07-17
$18.00
7/17/2026, 11:23:35 PM
2026-08-21NextUpdated
$25.00
8/18/2026, 11:25:11 PM
2026-09-18
$20.00
8/18/2026, 11:25:11 PM
2026-10-16
$17.00
8/18/2026, 11:25:11 PM
2027-01-15
$20.00
8/18/2026, 11:25:11 PM
Selected expiration: 2026-08-21 at max pain $25.00.
NRIX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
16
0
244900
244900
17
500
208400
208900
18
1500
171900
173400
20
3500
99100
102600
21
7100
62800
69900
22
10700
26600
37300
23
14300
16400
30700
24
18100
8200
26300
25
22000
4000
26000
30
65500
2000
67500
35
331500
0
331500
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.