This page reflects PATH 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 — PATH
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $12.00 (3.58 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$12.00
Nearest expiry
Expected Move
±$0.82
±5.3%
Days to Expiry
3
Calendar days
Total Call OI
92,827
Nearest expiry
Total Put OI
37,308
Nearest expiry
P/C OI Ratio
0.40
Put-heavy
Spot Price
$15.58
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
2026-08-07
$12.00
8/7/2026, 11:25:54 PM
2026-08-14
$14.00
8/14/2026, 11:24:27 PM
2026-08-21NextUpdated
$12.00
8/18/2026, 11:24:48 PM
2026-08-28
$12.50
8/18/2026, 11:24:48 PM
2026-09-04
$14.00
8/18/2026, 11:24:48 PM
2026-09-11
$14.00
8/18/2026, 11:24:48 PM
2026-09-18
$13.00
8/18/2026, 11:24:48 PM
2026-09-25
$13.00
8/18/2026, 11:24:48 PM
2026-10-02
$13.00
8/18/2026, 11:24:48 PM
2026-11-20
$13.00
8/18/2026, 11:24:48 PM
2026-12-18
$11.00
8/18/2026, 11:24:48 PM
2027-01-15
$12.00
8/18/2026, 11:24:48 PM
2027-02-19
$15.00
8/18/2026, 11:24:48 PM
2027-03-19
$10.00
8/18/2026, 11:24:48 PM
2027-06-17
$10.00
8/18/2026, 11:24:48 PM
Selected expiration: 2026-08-21 at max pain $12.00.
PATH pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
3
0
29334500
29334500
4
2300
25604100
25606400
5
15100
21874500
21889600
5.5
22900
20011200
20034100
6
31000
18147900
18178900
6.5
44250
16306350
16350600
7
57850
14464800
14522650
7.5
85650
12652650
12738300
8
113850
10840800
10954650
8.5
165400
9328050
9493450
9
217100
7819550
8036650
9.5
282600
6668600
6951200
10
348600
5539700
5888300
10.5
553300
4618550
5171850
11
767600
3738150
4505750
11.5
1273700
3085750
4359450
12
1785600
2441200
4226800
12.5
2702550
2008600
4711150
13
3649850
1581500
5231350
13.5
4907750
1211250
6119000
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.