This page reflects OLN 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 — OLN
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $22.50 (4.02 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$22.50
Nearest expiry
Expected Move
±$1.05
±5.7%
Days to Expiry
3
Calendar days
Total Call OI
14,717
Nearest expiry
Total Put OI
5,292
Nearest expiry
P/C OI Ratio
0.36
Put-heavy
Spot Price
$18.48
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
$22.50
6/18/2026, 11:25:56 PM
2026-07-17
$22.50
7/17/2026, 11:24:56 PM
2026-08-21NextUpdated
$22.50
8/18/2026, 11:24:15 PM
2026-09-18
$20.00
8/18/2026, 11:24:15 PM
2026-10-16
$20.00
8/18/2026, 11:24:15 PM
2026-11-20
$27.50
8/18/2026, 11:24:15 PM
2027-01-15
$20.00
8/18/2026, 11:24:15 PM
2027-02-19
$20.00
8/18/2026, 11:24:15 PM
Selected expiration: 2026-08-21 at max pain $22.50.
OLN pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
12.5
0
4499250
4499250
15
2750
3180750
3183500
17.5
6000
1897250
1903250
20
49250
903000
952250
22.5
251750
459750
711500
25
883750
97750
981500
27.5
3117500
15000
3132500
30
6162000
8000
6170000
32.5
9519250
4000
9523250
35
12997000
0
12997000
37.5
16531000
0
16531000
40
20111500
0
20111500
42.5
23754750
0
23754750
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.