This page reflects PAGS 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 — PAGS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $9.00 (0.56 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$9.00
Nearest expiry
Expected Move
±$0.55
±6.5%
Days to Expiry
3
Calendar days
Total Call OI
9,900
Nearest expiry
Total Put OI
2,349
Nearest expiry
P/C OI Ratio
0.24
Put-heavy
Spot Price
$8.44
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
$9.00
6/18/2026, 11:27:27 PM
2026-07-17
$9.00
7/17/2026, 11:27:57 PM
2026-08-21NextUpdated
$9.00
8/18/2026, 11:26:29 PM
2026-09-18
$9.00
8/18/2026, 11:26:29 PM
2026-11-20
$9.00
8/18/2026, 11:26:29 PM
2027-01-15
$13.00
8/18/2026, 11:26:29 PM
2027-02-19
$5.00
8/18/2026, 11:26:29 PM
Selected expiration: 2026-08-21 at max pain $9.00.
PAGS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
2
0
1594000
1594000
3
200
1359100
1359300
4
700
1124400
1125100
5
1300
889700
891000
6
2000
655700
657700
7
2700
424300
427000
8
73100
199200
272300
9
145600
17600
163200
10
301000
6200
307200
11
517300
700
518000
12
1099200
400
1099600
13
1742200
300
1742500
14
2409800
200
2410000
15
3087700
100
3087800
16
4069200
0
4069200
17
5058800
0
5058800
18
6048400
0
6048400
20
8027600
0
8027600
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.