This page reflects ONC 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 — ONC
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $320.00 (49.15 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$320.00
Nearest expiry
Expected Move
±$5.10
±1.4%
Days to Expiry
3
Calendar days
Total Call OI
1,256
Nearest expiry
Total Put OI
1,059
Nearest expiry
P/C OI Ratio
0.84
Put-heavy
Spot Price
$369.15
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
$270.00
6/18/2026, 11:25:12 PM
2026-07-17
$280.00
7/17/2026, 11:26:06 PM
2026-08-21NextUpdated
$320.00
8/18/2026, 11:23:57 PM
2026-09-18
$330.00
8/18/2026, 11:23:57 PM
2026-11-20
$330.00
8/18/2026, 11:23:57 PM
2027-02-19
$330.00
8/18/2026, 11:23:57 PM
Selected expiration: 2026-08-21 at max pain $320.00.
ONC pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
185
0
12771500
12771500
195
0
11712500
11712500
200
0
11183000
11183000
210
3000
10124000
10127000
220
9000
9065000
9074000
230
17000
8023000
8040000
240
25000
7027000
7052000
250
33000
6044000
6077000
260
46000
5073000
5119000
270
59000
4133000
4192000
280
74000
3348000
3422000
290
92000
2566000
2658000
300
110000
1813000
1923000
310
435000
1384000
1819000
320
766000
960000
1726000
330
1243000
539000
1782000
340
1730000
221000
1951000
350
2570000
4000
2574000
360
3469000
3000
3472000
370
4388000
2000
4390000
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.