This page reflects PENG 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 — PENG
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $60.00 (1.64 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$60.00
Nearest expiry
Expected Move
±$4.30
±7.4%
Days to Expiry
3
Calendar days
Total Call OI
12,279
Nearest expiry
Total Put OI
14,128
Nearest expiry
P/C OI Ratio
1.15
Put-heavy
Spot Price
$58.36
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, 11:27:08 PM
2026-07-17
$65.00
7/17/2026, 11:29:02 PM
2026-08-21NextUpdated
$60.00
8/18/2026, 11:32:08 PM
2026-09-18
$40.00
8/18/2026, 11:32:08 PM
2026-10-16
$55.00
8/18/2026, 11:32:08 PM
2026-12-18
$50.00
8/18/2026, 11:32:08 PM
2027-01-15
$35.00
8/18/2026, 11:32:08 PM
2027-03-19
$50.00
8/18/2026, 11:32:08 PM
2027-04-16
$40.00
8/18/2026, 11:32:08 PM
2027-05-21
$50.00
8/18/2026, 11:32:08 PM
Selected expiration: 2026-08-21 at max pain $60.00.
PENG pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
36954000
36954000
30
500
29890500
29891000
35
1000
22964500
22965500
40
6000
16826000
16832000
45
88500
11613500
11702000
50
212000
7544000
7756000
55
543000
4364500
4907500
60
1485500
2503000
3988500
65
3061500
1309000
4370500
70
4955500
557000
5512500
75
7912500
89000
8001500
80
11583000
8500
11591500
85
16156500
0
16156500
90
20955500
0
20955500
95
26368500
0
26368500
100
31885500
0
31885500
105
37633500
0
37633500
110
43404000
0
43404000
115
49260000
0
49260000
120
55355000
0
55355000
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.