Protagonist Therapeutics, Inc.Close $154.94EOD only
Max Pain
$135.00
Next expiry Aug 21, 2026
Expected Move
±$5.55
3.6% from close
Price Gap
-19.94
Distance to max pain
IV Rank
21
Low premium
P/C OI
0.43
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Aug 19, 2026 close
End-of-day snapshot
This page reflects PTGX options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 19, 2026 close
Max Pain — PTGX
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $135.00 (19.94 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$135.00
Nearest expiry
Expected Move
±$5.55
±3.6%
Days to Expiry
2
Calendar days
Total Call OI
1,030
Nearest expiry
Total Put OI
593
Nearest expiry
P/C OI Ratio
0.58
Put-heavy
Spot Price
$154.94
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
$100.00
6/18/2026, 11:31:41 PM
2026-07-17
$90.00
7/17/2026, 11:28:56 PM
2026-08-21NextUpdated
$135.00
8/19/2026, 11:30:04 PM
2026-09-18
$145.00
8/19/2026, 11:30:04 PM
2026-10-16
$90.00
8/19/2026, 11:30:04 PM
2027-01-15
$100.00
8/19/2026, 11:30:04 PM
Selected expiration: 2026-08-21 at max pain $135.00.
PTGX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
85
0
2851000
2851000
90
0
2555000
2555000
100
0
1964000
1964000
105
11500
1669500
1681000
110
23000
1378000
1401000
115
34500
1089000
1123500
120
46000
801500
847500
125
65500
521000
586500
130
114000
299500
413500
135
175000
99000
274000
140
264500
44500
309000
145
382000
16500
398500
150
732500
6500
739000
155
1096000
5000
1101000
160
1469500
4000
1473500
165
1980500
3000
1983500
170
2492500
2000
2494500
175
3005000
1000
3006000
180
3517500
0
3517500
190
4543500
0
4543500
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.