Packaging Corporation of AmericClose $250.30EOD only
Max Pain
$230.00
Next expiry Aug 21, 2026
Expected Move
±$6.53
2.6% from close
Price Gap
-20.30
Distance to max pain
IV Rank
16
Low premium
P/C OI
0.28
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Aug 18, 2026 close
End-of-day snapshot
This page reflects PKG 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 — PKG
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $230.00 (20.30 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$230.00
Nearest expiry
Expected Move
±$6.53
±2.6%
Days to Expiry
3
Calendar days
Total Call OI
388
Nearest expiry
Total Put OI
117
Nearest expiry
P/C OI Ratio
0.30
Put-heavy
Spot Price
$250.30
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
$220.00
6/18/2026, 11:28:32 PM
2026-07-17
$220.00
7/17/2026, 11:29:06 PM
2026-08-21NextUpdated
$230.00
8/18/2026, 11:33:15 PM
2026-09-18
$240.00
8/18/2026, 11:33:15 PM
2026-10-16
$210.00
8/18/2026, 11:33:15 PM
2027-01-15
$230.00
8/18/2026, 11:33:15 PM
Selected expiration: 2026-08-21 at max pain $230.00.
PKG pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
145
0
764500
764500
165
0
530500
530500
180
0
361000
361000
190
0
250000
250000
195
0
200000
200000
200
500
150000
150500
210
1500
83000
84500
220
2500
40000
42500
230
3500
10000
13500
240
53500
3000
56500
250
129500
0
129500
260
294500
0
294500
270
553500
0
553500
280
867500
0
867500
290
1219500
0
1219500
300
1603500
0
1603500
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.