This page reflects PAGP 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 — PAGP
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $25.00 (1.30 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$0.42
±1.6%
Days to Expiry
3
Calendar days
Total Call OI
12,219
Nearest expiry
Total Put OI
10,807
Nearest expiry
P/C OI Ratio
0.88
Put-heavy
Spot Price
$26.30
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
$23.00
6/18/2026, 11:27:56 PM
2026-07-17
$25.00
7/17/2026, 11:26:25 PM
2026-08-21NextUpdated
$25.00
8/18/2026, 11:32:15 PM
2026-09-18
$26.00
8/18/2026, 11:32:15 PM
2026-11-20
$24.00
8/18/2026, 11:32:15 PM
2027-01-15
$24.00
8/18/2026, 11:32:15 PM
2027-02-19
$23.00
8/18/2026, 11:32:15 PM
Selected expiration: 2026-08-21 at max pain $25.00.
PAGP pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
11
0
13576200
13576200
15
0
9253400
9253400
16
0
8174200
8174200
17
0
7095100
7095100
18
0
6020800
6020800
19
200
4951300
4951500
20
600
3887400
3888000
21
1200
2888500
2889700
22
3600
2026300
2029900
23
6900
1320300
1327200
24
12800
767500
780300
25
25100
352900
378000
26
388300
600
388900
27
1354600
0
1354600
28
2565500
0
2565500
30
5000500
0
5000500
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.