This page reflects PEP 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 — PEP
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $140.00 (0.13 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$140.00
Nearest expiry
Expected Move
±$2.49
±1.8%
Days to Expiry
3
Calendar days
Total Call OI
33,517
Nearest expiry
Total Put OI
22,162
Nearest expiry
P/C OI Ratio
0.66
Put-heavy
Spot Price
$140.13
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
$139.00
8/7/2026, 11:29:09 PM
2026-08-14
$138.00
8/14/2026, 11:25:37 PM
2026-08-21NextUpdated
$140.00
8/18/2026, 11:29:01 PM
2026-08-28
$138.00
8/18/2026, 11:29:01 PM
2026-09-04
$138.00
8/18/2026, 11:29:01 PM
2026-09-11
$139.00
8/18/2026, 11:29:01 PM
2026-09-18
$140.00
8/18/2026, 11:29:01 PM
2026-09-25
$138.00
8/18/2026, 11:29:01 PM
2026-10-02
$141.00
8/18/2026, 11:29:01 PM
2026-10-16
$140.00
8/18/2026, 11:29:01 PM
2026-11-20
$140.00
8/18/2026, 11:29:01 PM
2026-12-18
$150.00
8/18/2026, 11:29:01 PM
2027-01-15
$140.00
8/18/2026, 11:29:01 PM
2027-03-19
$150.00
8/18/2026, 11:29:01 PM
2027-06-17
$140.00
8/18/2026, 11:29:01 PM
Selected expiration: 2026-08-21 at max pain $140.00.
PEP pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
75
0
128886800
128886800
80
3000
117805800
117808800
85
6000
106725300
106731300
90
9000
95644800
95653800
95
17000
84565800
84582800
100
25000
73487800
73512800
105
34500
62428800
62463300
110
46500
51419800
51466300
115
58500
40442800
40501300
120
72500
29558300
29630800
123
85700
23476100
23561800
124
90100
21449300
21539400
125
94500
19424600
19519100
126
103400
17604900
17708300
127
112300
15788800
15901100
128
121200
13983100
14104300
129
130400
12203500
12333900
130
140000
10437600
10577600
131
162300
9022400
9184700
132
184700
7655700
7840400
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.