This page reflects PONY options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 17, 2026 close
Max Pain — PONY
Data as of market close Aug 17, 2026
Nearest listed expiration 2026-08-21 shows max pain at $7.50 (0.48 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$7.50
Nearest expiry
Expected Move
±$0.86
±10.8%
Days to Expiry
4
Calendar days
Total Call OI
34,152
Nearest expiry
Total Put OI
5,542
Nearest expiry
P/C OI Ratio
0.16
Put-heavy
Spot Price
$7.98
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
$7.50
8/7/2026, 11:28:56 PM
2026-08-14
$7.50
8/14/2026, 11:24:27 PM
2026-08-21NextUpdated
$7.50
8/17/2026, 11:31:55 PM
2026-08-28
$6.50
8/17/2026, 11:31:55 PM
2026-09-04
$8.00
8/17/2026, 11:31:55 PM
2026-09-11
$8.50
8/17/2026, 11:31:55 PM
2026-09-18
$7.50
8/17/2026, 11:31:55 PM
2026-09-25
$6.50
8/17/2026, 11:31:55 PM
2026-10-02
$4.00
8/17/2026, 11:31:55 PM
2026-11-20
$10.00
8/17/2026, 11:31:55 PM
2027-01-15
$10.00
8/17/2026, 11:31:55 PM
2027-02-19
$7.50
8/17/2026, 11:31:55 PM
Selected expiration: 2026-08-21 at max pain $7.50.
PONY pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
2898650
2898650
3
100
2629800
2629900
4
600
2092100
2092700
4.5
850
1848750
1849600
5
1100
1613650
1614750
5.5
2800
1399150
1401950
6
4500
1185750
1190250
6.5
7200
977900
985100
7
14600
812300
826900
7.5
62200
665800
728000
8
660700
583300
1244000
8.5
1271700
515400
1787100
9
1937750
450650
2388400
9.5
2672200
386650
3058850
10
3416150
322800
3738950
10.5
4262800
294200
4557000
11
5112550
265650
5378200
11.5
5965100
237100
6202200
12
6817650
208750
7026400
12.5
7674800
180500
7855300
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.