This page reflects PH 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 — PH
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $880.00 (161.85 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$880.00
Nearest expiry
Expected Move
±$18.45
±1.8%
Days to Expiry
3
Calendar days
Total Call OI
3,706
Nearest expiry
Total Put OI
1,936
Nearest expiry
P/C OI Ratio
0.52
Put-heavy
Spot Price
$1041.85
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
$890.00
6/18/2026, 11:27:55 PM
2026-07-17
$920.00
7/17/2026, 11:28:01 PM
2026-08-21NextUpdated
$880.00
8/18/2026, 11:24:09 PM
2026-09-18
$1030.00
8/18/2026, 11:24:09 PM
2026-11-20
$910.00
8/18/2026, 11:24:09 PM
2027-02-19
$1050.00
8/18/2026, 11:24:09 PM
Selected expiration: 2026-08-21 at max pain $880.00.
PH pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
390
0
91808000
91808000
400
0
89874000
89874000
410
1000
87940000
87941000
420
3000
86006000
86009000
430
5000
84073000
84078000
440
8000
82142000
82150000
450
13000
80216000
80229000
460
21000
78293000
78314000
470
29000
76376000
76405000
480
37000
74464000
74501000
490
45000
72560000
72605000
500
54000
70662000
70716000
510
64000
68776000
68840000
520
74000
66894000
66968000
530
84000
65016000
65100000
540
94000
63143000
63237000
550
104000
61277000
61381000
560
114000
59421000
59535000
570
124000
57572000
57696000
580
134000
55736000
55870000
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.