This page reflects PSA 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 — PSA
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $320.00 (3.10 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$320.00
Nearest expiry
Expected Move
±$6.15
±1.9%
Days to Expiry
3
Calendar days
Total Call OI
1,216
Nearest expiry
Total Put OI
495
Nearest expiry
P/C OI Ratio
0.41
Put-heavy
Spot Price
$323.10
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
$320.00
6/18/2026, 11:28:05 PM
2026-07-17
$310.00
7/17/2026, 11:28:38 PM
2026-08-21NextUpdated
$320.00
8/18/2026, 11:26:30 PM
2026-09-18
$310.00
8/18/2026, 11:26:30 PM
2026-12-18
$320.00
8/18/2026, 11:26:30 PM
2027-03-19
$300.00
8/18/2026, 11:26:30 PM
Selected expiration: 2026-08-21 at max pain $320.00.
PSA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
195
0
5471500
5471500
250
0
2760000
2760000
260
0
2269000
2269000
270
0
1780000
1780000
280
0
1300000
1300000
290
0
863000
863000
300
1000
456000
457000
310
4000
221000
225000
320
14000
31000
45000
330
144000
0
144000
340
458000
0
458000
350
1063000
0
1063000
360
2242000
0
2242000
370
3443000
0
3443000
400
7055000
0
7055000
430
10670000
0
10670000
440
11878000
0
11878000
450
13088000
0
13088000
460
14303000
0
14303000
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.