This page reflects NVS 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 — NVS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $155.00 (0.45 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$155.00
Nearest expiry
Expected Move
±$3.48
±2.3%
Days to Expiry
3
Calendar days
Total Call OI
8,331
Nearest expiry
Total Put OI
4,246
Nearest expiry
P/C OI Ratio
0.51
Put-heavy
Spot Price
$154.55
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
$145.00
6/18/2026, 11:23:49 PM
2026-07-17
$150.00
7/17/2026, 11:23:50 PM
2026-08-21NextUpdated
$155.00
8/18/2026, 11:25:17 PM
2026-09-18
$155.00
8/18/2026, 11:25:17 PM
2026-10-16
$155.00
8/18/2026, 11:25:17 PM
2026-11-20
$155.00
8/18/2026, 11:25:17 PM
2026-12-18
$160.00
8/18/2026, 11:25:17 PM
2027-01-15
$160.00
8/18/2026, 11:25:17 PM
2027-06-17
$170.00
8/18/2026, 11:25:17 PM
Selected expiration: 2026-08-21 at max pain $155.00.
NVS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
75
0
31457500
31457500
105
0
18722500
18722500
110
0
16601000
16601000
120
5000
12358000
12363000
125
7500
10248500
10256000
130
10000
8145500
8155500
135
12500
6053000
6065500
140
16500
4062000
4078500
145
23500
2150000
2173500
150
59500
934500
994000
155
344000
374500
718500
160
1772500
0
1772500
165
4054500
0
4054500
170
7306500
0
7306500
175
11342000
0
11342000
180
15404500
0
15404500
185
19554500
0
19554500
190
23716500
0
23716500
195
27878500
0
27878500
200
32041000
0
32041000
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.