This page reflects PPG 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 — PPG
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $115.00 (2.19 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$115.00
Nearest expiry
Expected Move
±$2.53
±2.2%
Days to Expiry
3
Calendar days
Total Call OI
4,414
Nearest expiry
Total Put OI
793
Nearest expiry
P/C OI Ratio
0.18
Put-heavy
Spot Price
$112.81
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
$104.00
8/7/2026, 11:29:25 PM
2026-08-14
$115.00
8/14/2026, 11:33:33 PM
2026-08-21NextUpdated
$115.00
8/18/2026, 11:34:11 PM
2026-08-28
$116.00
8/18/2026, 11:34:11 PM
2026-09-04
$116.00
8/18/2026, 11:34:11 PM
2026-09-11
$107.00
8/18/2026, 11:34:11 PM
2026-09-18
$115.00
8/18/2026, 11:34:11 PM
2026-09-25
$117.00
8/18/2026, 11:34:11 PM
2026-10-02
$101.00
8/18/2026, 11:34:11 PM
2026-11-20
$110.00
8/18/2026, 11:34:11 PM
2026-12-18
$115.00
8/18/2026, 11:34:11 PM
2027-01-15
$110.00
8/18/2026, 11:34:11 PM
2027-02-19
$110.00
8/18/2026, 11:34:11 PM
2027-03-19
$105.00
8/18/2026, 11:34:11 PM
2027-06-17
$110.00
8/18/2026, 11:34:11 PM
Selected expiration: 2026-08-21 at max pain $115.00.
PPG pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
55
0
3719800
3719800
60
0
3323300
3323300
65
0
2926800
2926800
70
0
2537800
2537800
75
0
2152800
2152800
80
500
1772800
1773300
85
1500
1399300
1400800
90
2500
1038300
1040800
95
4000
699300
703300
100
5500
463300
468800
104
6700
325300
332000
105
7000
292500
299500
106
7900
262000
269900
107
8900
231600
240500
108
10000
201400
211400
109
11200
171500
182700
110
12500
144300
156800
111
13900
125800
139700
112
15300
108000
123300
113
16700
90500
107200
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.