This page reflects OTIS 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 — OTIS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $72.50 (2.15 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$72.50
Nearest expiry
Expected Move
±$1.18
±1.7%
Days to Expiry
3
Calendar days
Total Call OI
2,834
Nearest expiry
Total Put OI
1,350
Nearest expiry
P/C OI Ratio
0.48
Put-heavy
Spot Price
$70.35
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
$75.00
6/18/2026, 11:26:49 PM
2026-07-17
$72.50
7/17/2026, 11:25:29 PM
2026-08-21NextUpdated
$72.50
8/18/2026, 11:26:45 PM
2026-09-18
$72.50
8/18/2026, 11:26:45 PM
2026-12-18
$72.50
8/18/2026, 11:26:45 PM
2027-03-19
$70.00
8/18/2026, 11:26:45 PM
Selected expiration: 2026-08-21 at max pain $72.50.
OTIS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
55
0
1982500
1982500
60
0
1328500
1328500
65
0
685000
685000
67.5
0
391250
391250
70
0
133000
133000
72.5
5000
30000
35000
75
83750
0
83750
77.5
321750
0
321750
80
685000
0
685000
82.5
1222750
0
1222750
85
1920250
0
1920250
90
3333250
0
3333250
100
6161250
0
6161250
105
7577250
0
7577250
110
8993750
0
8993750
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.