This page reflects NTRS 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 — NTRS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $180.00 (10.58 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$180.00
Nearest expiry
Expected Move
±$3.90
±2.0%
Days to Expiry
3
Calendar days
Total Call OI
1,212
Nearest expiry
Total Put OI
796
Nearest expiry
P/C OI Ratio
0.66
Put-heavy
Spot Price
$190.58
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
$165.00
6/18/2026, 11:23:07 PM
2026-07-17
$185.00
7/17/2026, 11:29:16 PM
2026-08-21NextUpdated
$180.00
8/18/2026, 11:25:52 PM
2026-09-18
$180.00
8/18/2026, 11:25:52 PM
2026-10-16
$170.00
8/18/2026, 11:25:52 PM
2026-12-18
$135.00
8/18/2026, 11:25:52 PM
2027-01-15
$155.00
8/18/2026, 11:25:52 PM
Selected expiration: 2026-08-21 at max pain $180.00.
NTRS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
145
0
2012000
2012000
150
0
1624000
1624000
155
0
1237000
1237000
160
0
851000
851000
165
0
467000
467000
170
2500
142500
145000
175
9500
68000
77500
180
36500
30500
67000
185
81500
7000
88500
190
167500
500
168000
195
523000
0
523000
200
901000
0
901000
210
2101000
0
2101000
220
3310000
0
3310000
260
8150000
0
8150000
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.