This page reflects NTAP 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 — NTAP
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $170.00 (34.71 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$170.00
Nearest expiry
Expected Move
±$8.92
±4.4%
Days to Expiry
3
Calendar days
Total Call OI
8,539
Nearest expiry
Total Put OI
4,695
Nearest expiry
P/C OI Ratio
0.55
Put-heavy
Spot Price
$204.71
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
$125.00
6/18/2026, 11:24:08 PM
2026-07-17
$160.00
7/17/2026, 11:24:57 PM
2026-08-21NextUpdated
$170.00
8/18/2026, 11:22:03 PM
2026-09-18
$145.00
8/18/2026, 11:22:03 PM
2026-10-16
$180.00
8/18/2026, 11:22:03 PM
2026-11-20
$110.00
8/18/2026, 11:22:03 PM
2026-12-18
$155.00
8/18/2026, 11:22:03 PM
2027-01-15
$130.00
8/18/2026, 11:22:03 PM
2027-03-19
$135.00
8/18/2026, 11:22:03 PM
2027-06-17
$120.00
8/18/2026, 11:22:03 PM
Selected expiration: 2026-08-21 at max pain $170.00.
NTAP pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
65
0
46576000
46576000
90
17500
34841000
34858500
95
21000
32494000
32515000
100
24500
30147000
30171500
105
28000
27804500
27832500
110
31500
25471000
25502500
115
35500
23148000
23183500
120
45500
20837000
20882500
125
59000
18543000
18602000
130
87500
16255000
16342500
135
124000
13978500
14102500
140
186000
11784000
11970000
145
279000
9973500
10252500
150
394500
8276500
8671000
155
542000
6874000
7416000
160
746000
5559500
6305500
165
1065500
4464000
5529500
170
1823500
3566000
5389500
175
2699500
2719000
5418500
180
3988000
1904000
5892000
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.