This page reflects PACS 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 — PACS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $35.00 (8.80 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$35.00
Nearest expiry
Expected Move
±$1.95
±4.5%
Days to Expiry
3
Calendar days
Total Call OI
7,209
Nearest expiry
Total Put OI
645
Nearest expiry
P/C OI Ratio
0.09
Put-heavy
Spot Price
$43.80
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
$30.00
6/18/2026, 11:25:57 PM
2026-07-17
$40.00
7/17/2026, 11:28:24 PM
2026-08-21NextUpdated
$35.00
8/18/2026, 11:28:57 PM
2026-09-18
$20.00
8/18/2026, 11:28:57 PM
2026-12-18
$45.00
8/18/2026, 11:28:57 PM
2027-01-15
$15.00
8/18/2026, 11:28:57 PM
2027-03-19
$25.00
8/18/2026, 11:28:57 PM
Selected expiration: 2026-08-21 at max pain $35.00.
PACS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
1264000
1264000
22.5
1250
1102750
1104000
25
4500
941500
946000
30
21500
639500
661000
35
43500
381000
424500
40
377000
149000
526000
45
987000
0
987000
50
1756000
0
1756000
55
5219000
0
5219000
60
8816000
0
8816000
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.