This page reflects PKE 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 — PKE
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $25.00 (11.90 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$25.00
Nearest expiry
Expected Move
±$2.42
±6.6%
Days to Expiry
3
Calendar days
Total Call OI
1,175
Nearest expiry
Total Put OI
121
Nearest expiry
P/C OI Ratio
0.10
Put-heavy
Spot Price
$36.90
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
$25.00
6/18/2026, 11:26:26 PM
2026-07-17
$30.00
7/17/2026, 11:26:14 PM
2026-08-21NextUpdated
$25.00
8/18/2026, 11:25:27 PM
2026-09-18
$40.00
8/18/2026, 11:25:27 PM
2026-11-20
$25.00
8/18/2026, 11:25:27 PM
2027-02-19
$35.00
8/18/2026, 11:25:27 PM
Selected expiration: 2026-08-21 at max pain $25.00.
PKE pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
12.5
0
268750
268750
15
250
240000
240250
17.5
1500
212250
213750
20
4750
184500
189250
22.5
13250
159750
173000
25
24000
135000
159000
30
90000
104500
194500
35
269500
79000
348500
40
567000
58500
625500
45
1136000
39000
1175000
50
1720500
19500
1740000
55
2307500
0
2307500
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.