This page reflects PTON 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 — PTON
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $5.00 (0.47 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$5.00
Nearest expiry
Expected Move
±$0.21
±3.8%
Days to Expiry
2
Calendar days
Total Call OI
24,007
Nearest expiry
Total Put OI
3,832
Nearest expiry
P/C OI Ratio
0.16
Put-heavy
Spot Price
$5.47
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
$6.50
8/7/2026, 11:27:23 PM
2026-08-14
$6.50
8/14/2026, 11:33:33 PM
2026-08-21NextUpdated
$5.00
8/19/2026, 11:34:25 PM
2026-08-28
$5.50
8/19/2026, 11:34:25 PM
2026-09-04
$5.50
8/19/2026, 11:34:25 PM
2026-09-11
$5.50
8/19/2026, 11:34:25 PM
2026-09-18
$6.00
8/19/2026, 11:34:25 PM
2026-09-25
$5.50
8/19/2026, 11:34:25 PM
2026-10-02
$5.00
8/19/2026, 11:34:25 PM
2026-10-16
$5.00
8/19/2026, 11:34:25 PM
2027-01-15
$6.00
8/19/2026, 11:34:25 PM
2027-06-17
$5.00
8/19/2026, 11:34:25 PM
Selected expiration: 2026-08-21 at max pain $5.00.
PTON pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
1636450
1636450
1.5
7650
1445050
1452700
2
17050
1253800
1270850
2.5
28000
1062700
1090700
3
39450
871750
911200
3.5
51300
682950
734250
4
63800
494800
558600
4.5
77200
308200
385400
5
90700
125500
216200
5.5
522100
63200
585300
6
987900
29200
1017100
6.5
1824350
17900
1842250
7
2691350
9250
2700600
7.5
3687450
2800
3690250
8
4698450
1800
4700250
8.5
5864000
1200
5865200
9
7030800
750
7031550
9.5
8205600
400
8206000
10
9383300
100
9383400
10.5
10582900
50
10582950
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.