Philip Morris International IncClose $187.62EOD only
Max Pain
$185.00
Next expiry Aug 21, 2026
Expected Move
±$4.67
2.5% from close
Price Gap
-2.62
Distance to max pain
IV Rank
19
Low premium
P/C OI
1.15
Slightly put-heavy
Consensus
—
No reports available
Published snapshot: Aug 18, 2026 close
End-of-day snapshot
This page reflects PM 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 — PM
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $185.00 (2.62 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$185.00
Nearest expiry
Expected Move
±$4.67
±2.5%
Days to Expiry
3
Calendar days
Total Call OI
13,011
Nearest expiry
Total Put OI
13,172
Nearest expiry
P/C OI Ratio
1.01
Put-heavy
Spot Price
$187.62
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
$190.00
8/7/2026, 11:26:32 PM
2026-08-14
$185.00
8/14/2026, 11:31:25 PM
2026-08-21NextUpdated
$185.00
8/18/2026, 11:25:42 PM
2026-08-28
$190.00
8/18/2026, 11:25:42 PM
2026-09-04
$190.00
8/18/2026, 11:25:42 PM
2026-09-11
$185.00
8/18/2026, 11:25:42 PM
2026-09-18
$175.00
8/18/2026, 11:25:42 PM
2026-09-25
$190.00
8/18/2026, 11:25:42 PM
2026-10-16
$190.00
8/18/2026, 11:25:42 PM
2026-11-20
$180.00
8/18/2026, 11:25:42 PM
2026-12-18
$175.00
8/18/2026, 11:25:42 PM
2027-01-15
$160.00
8/18/2026, 11:25:42 PM
2027-03-19
$175.00
8/18/2026, 11:25:42 PM
2027-06-17
$170.00
8/18/2026, 11:25:42 PM
Selected expiration: 2026-08-21 at max pain $185.00.
PM pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
90
0
104109000
104109000
95
0
97525500
97525500
100
0
91034000
91034000
105
0
84548000
84548000
120
0
65099000
65099000
125
0
58624000
58624000
130
0
52164500
52164500
135
0
45722500
45722500
140
0
39460500
39460500
145
0
33347000
33347000
150
2000
27396000
27398000
155
20500
21793500
21814000
160
40000
16578000
16618000
165
67000
12300000
12367000
167.5
88000
10306500
10394500
170
109000
8331750
8440750
172.5
144250
6564500
6708750
175
179500
4821250
5000750
177.5
332750
3769000
4101750
180
486500
2763000
3249500
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.