This page reflects PDFS 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 — PDFS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $40.00 (7.93 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$3.85
±8.0%
Days to Expiry
3
Calendar days
Total Call OI
1,404
Nearest expiry
Total Put OI
125
Nearest expiry
P/C OI Ratio
0.09
Put-heavy
Spot Price
$47.93
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
$45.00
6/18/2026, 11:30:59 PM
2026-07-17
$55.00
7/17/2026, 11:30:40 PM
2026-08-21NextUpdated
$40.00
8/18/2026, 11:32:39 PM
2026-09-18
$50.00
8/18/2026, 11:32:39 PM
2026-11-20
$40.00
8/18/2026, 11:32:39 PM
2027-02-19
$30.00
8/18/2026, 11:32:39 PM
Selected expiration: 2026-08-21 at max pain $40.00.
PDFS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
15
0
389000
389000
17.5
250
357750
358000
22.5
1250
295250
296500
25
1750
264000
265750
30
3750
201500
205250
35
8750
140500
149250
40
53250
84500
137750
45
175750
50000
225750
50
310250
23500
333750
55
466750
8500
475250
60
1035750
500
1036250
65
1650250
0
1650250
70
2302250
0
2302250
75
2965250
0
2965250
80
3658750
0
3658750
90
5058750
0
5058750
95
5759750
0
5759750
100
6461250
0
6461250
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.