This page reflects PAYX 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 — PAYX
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $110.00 (9.93 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$110.00
Nearest expiry
Expected Move
±$2.98
±2.5%
Days to Expiry
3
Calendar days
Total Call OI
5,507
Nearest expiry
Total Put OI
3,494
Nearest expiry
P/C OI Ratio
0.63
Put-heavy
Spot Price
$119.93
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
$95.00
6/18/2026, 11:28:03 PM
2026-07-17
$100.00
7/17/2026, 11:26:07 PM
2026-08-21NextUpdated
$110.00
8/18/2026, 11:26:22 PM
2026-09-18
$110.00
8/18/2026, 11:26:22 PM
2026-12-18
$105.00
8/18/2026, 11:26:22 PM
2027-01-15
$110.00
8/18/2026, 11:26:22 PM
2027-03-19
$110.00
8/18/2026, 11:26:22 PM
2027-06-17
$110.00
8/18/2026, 11:26:22 PM
Selected expiration: 2026-08-21 at max pain $110.00.
PAYX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
14992000
14992000
75
0
9752500
9752500
80
0
8009000
8009000
85
1000
6358500
6359500
90
2000
4728500
4730500
95
3000
3485000
3488000
100
4000
2309000
2313000
105
6000
1265000
1271000
110
177000
598500
775500
115
634500
194500
829000
120
1781500
5500
1787000
125
3277000
500
3277500
130
5620500
0
5620500
135
8334000
0
8334000
140
11081500
0
11081500
145
13834000
0
13834000
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.