This page reflects ORA 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 — ORA
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $105.00 (4.68 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$105.00
Nearest expiry
Expected Move
±$3.20
±2.9%
Days to Expiry
3
Calendar days
Total Call OI
836
Nearest expiry
Total Put OI
307
Nearest expiry
P/C OI Ratio
0.37
Put-heavy
Spot Price
$109.68
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
$120.00
6/18/2026, 11:23:59 PM
2026-07-17
$115.00
7/17/2026, 11:31:27 PM
2026-08-21NextUpdated
$105.00
8/18/2026, 11:32:08 PM
2026-09-18
$115.00
8/18/2026, 11:32:08 PM
2026-12-18
$120.00
8/18/2026, 11:32:08 PM
2027-03-19
$110.00
8/18/2026, 11:32:08 PM
2027-06-17
$110.00
8/18/2026, 11:32:08 PM
Selected expiration: 2026-08-21 at max pain $105.00.
ORA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
80
0
582000
582000
85
2500
429000
431500
90
28500
282000
310500
95
56000
168000
224000
100
89000
97000
186000
105
139500
41500
181000
110
213000
8500
221500
115
308000
1500
309500
120
473500
0
473500
125
700000
0
700000
130
1092500
0
1092500
135
1490500
0
1490500
140
1892500
0
1892500
145
2299500
0
2299500
150
2708000
0
2708000
155
3117500
0
3117500
160
3528500
0
3528500
165
3945000
0
3945000
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.