This page reflects OSS 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 — OSS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $10.00 (2.68 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$10.00
Nearest expiry
Expected Move
±$0.93
±7.3%
Days to Expiry
3
Calendar days
Total Call OI
25,889
Nearest expiry
Total Put OI
4,184
Nearest expiry
P/C OI Ratio
0.16
Put-heavy
Spot Price
$12.68
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
$17.50
6/18/2026, 11:26:21 PM
2026-07-17
$15.00
7/17/2026, 11:27:54 PM
2026-08-21NextUpdated
$10.00
8/18/2026, 11:26:45 PM
2026-09-18
$12.50
8/18/2026, 11:26:45 PM
2026-11-20
$10.00
8/18/2026, 11:26:45 PM
2026-12-18
$17.50
8/18/2026, 11:26:45 PM
2027-01-15
$10.00
8/18/2026, 11:26:45 PM
2027-02-19
$10.00
8/18/2026, 11:26:45 PM
Selected expiration: 2026-08-21 at max pain $10.00.
OSS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
2973500
2973500
5
10500
1929000
1939500
7.5
143250
1153750
1297000
10
651250
584500
1235750
12.5
1762000
166500
1928500
15
3532000
29250
3561250
17.5
9162750
1250
9164000
20
14979000
0
14979000
22.5
21197500
0
21197500
25
27512000
0
27512000
30
40376000
0
40376000
35
53290000
0
53290000
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.