This page reflects PL 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 — PL
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $26.00 (2.64 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$26.00
Nearest expiry
Expected Move
±$1.38
±5.9%
Days to Expiry
3
Calendar days
Total Call OI
31,060
Nearest expiry
Total Put OI
17,286
Nearest expiry
P/C OI Ratio
0.56
Put-heavy
Spot Price
$23.36
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
$22.00
8/7/2026, 11:28:23 PM
2026-08-14
$23.00
8/14/2026, 11:31:55 PM
2026-08-21NextUpdated
$26.00
8/18/2026, 11:34:06 PM
2026-08-28
$23.00
8/18/2026, 11:34:06 PM
2026-09-04
$24.00
8/18/2026, 11:34:06 PM
2026-09-11
$25.00
8/18/2026, 11:34:06 PM
2026-09-18
$26.00
8/18/2026, 11:34:06 PM
2026-09-25
$24.00
8/18/2026, 11:34:06 PM
2026-10-02
$24.00
8/18/2026, 11:34:06 PM
2026-10-16
$30.00
8/18/2026, 11:34:06 PM
2026-11-20
$21.00
8/18/2026, 11:34:06 PM
2027-01-15
$27.00
8/18/2026, 11:34:06 PM
Selected expiration: 2026-08-21 at max pain $26.00.
PL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
10
0
22603350
22603350
11
10400
20918550
20928950
12
30900
19233950
19264850
13
51800
17550550
17602350
14
73200
15867550
15940750
15
94600
14185350
14279950
16
117000
12550450
12667450
17
142100
10975650
11117750
17.5
156100
10226850
10382950
18
172050
9507400
9679450
18.5
188400
8805050
8993450
19
205100
8112300
8317400
19.5
223000
7433750
7656750
20
241800
6766600
7008400
20.5
270750
6162950
6433700
21
301450
5563150
5864600
21.5
354150
5030850
5385000
22
423300
4508250
4931550
22.5
517650
4030650
4548300
23
619050
3574400
4193450
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.