This page reflects PR 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 — PR
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $21.00 (1.35 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$21.00
Nearest expiry
Expected Move
±$0.85
±3.8%
Days to Expiry
3
Calendar days
Total Call OI
5,655
Nearest expiry
Total Put OI
5,403
Nearest expiry
P/C OI Ratio
0.96
Put-heavy
Spot Price
$22.35
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
$20.00
6/18/2026, 11:28:34 PM
2026-07-17
$19.00
7/17/2026, 11:28:14 PM
2026-08-21NextUpdated
$21.00
8/18/2026, 11:36:23 PM
2026-09-18
$20.00
8/18/2026, 11:36:23 PM
2026-10-16
$20.00
8/18/2026, 11:36:23 PM
2027-01-15
$15.00
8/18/2026, 11:36:23 PM
2027-05-21
$13.00
8/18/2026, 11:36:23 PM
Selected expiration: 2026-08-21 at max pain $21.00.
PR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
11
0
4716000
4716000
14
1500
3095100
3096600
15
2000
2554900
2556900
16
2500
2049100
2051600
17
3300
1546500
1549800
18
9200
1059300
1068500
19
21200
598700
619900
20
47200
250200
297400
21
111400
17600
129000
22
251900
5600
257500
23
481900
300
482200
24
800400
200
800600
25
1361800
100
1361900
26
1927200
0
1927200
27
2492700
0
2492700
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.