This page reflects PII 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 — PII
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $70.00 (2.39 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$70.00
Nearest expiry
Expected Move
±$3.10
±4.6%
Days to Expiry
3
Calendar days
Total Call OI
2,494
Nearest expiry
Total Put OI
896
Nearest expiry
P/C OI Ratio
0.36
Put-heavy
Spot Price
$67.61
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
$65.00
6/18/2026, 11:31:38 PM
2026-07-17
$70.00
7/17/2026, 11:27:39 PM
2026-08-21NextUpdated
$70.00
8/18/2026, 11:27:36 PM
2026-09-18
$55.00
8/18/2026, 11:27:36 PM
2026-12-18
$65.00
8/18/2026, 11:27:36 PM
2027-01-15
$50.00
8/18/2026, 11:27:36 PM
2027-03-19
$55.00
8/18/2026, 11:27:36 PM
Selected expiration: 2026-08-21 at max pain $70.00.
PII pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
2421000
2421000
40
500
1973000
1973500
50
3500
1090000
1093500
55
5000
670000
675000
60
6500
315000
321500
65
35500
49500
85000
70
73000
8000
81000
75
243000
0
243000
80
506500
0
506500
85
1057000
0
1057000
90
1698000
0
1698000
95
2915500
0
2915500
100
4148500
0
4148500
105
5388000
0
5388000
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.