This page reflects OSIS 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 — OSIS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $230.00 (11.27 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$230.00
Nearest expiry
Expected Move
±$18.10
±8.3%
Days to Expiry
3
Calendar days
Total Call OI
222
Nearest expiry
Total Put OI
95
Nearest expiry
P/C OI Ratio
0.43
Put-heavy
Spot Price
$218.73
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
$230.00
6/18/2026, 11:29:49 PM
2026-07-17
$220.00
7/17/2026, 11:25:49 PM
2026-08-21NextUpdated
$230.00
8/18/2026, 11:30:36 PM
2026-09-18
$220.00
8/18/2026, 11:30:36 PM
2026-10-16
$220.00
8/18/2026, 11:30:36 PM
2026-12-18
$240.00
8/18/2026, 11:30:36 PM
2027-01-15
$175.00
8/18/2026, 11:30:36 PM
Selected expiration: 2026-08-21 at max pain $230.00.
OSIS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
155
0
492000
492000
170
1500
349500
351000
180
2500
258500
261000
185
3000
223000
226000
195
4000
166000
170000
200
4500
138000
142500
210
5500
83000
88500
220
9500
35000
44500
230
25500
7000
32500
240
179500
0
179500
250
348500
0
348500
260
527500
0
527500
270
721500
0
721500
290
1115500
0
1115500
300
1312500
0
1312500
310
1524500
0
1524500
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.