This page reflects QTWO 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 — QTWO
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $60.00 (2.84 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$60.00
Nearest expiry
Expected Move
±$2.80
±4.5%
Days to Expiry
3
Calendar days
Total Call OI
450
Nearest expiry
Total Put OI
958
Nearest expiry
P/C OI Ratio
2.13
Put-heavy
Spot Price
$62.84
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
$45.00
6/18/2026, 11:28:47 PM
2026-07-17
$45.00
7/17/2026, 11:29:39 PM
2026-08-21NextUpdated
$60.00
8/18/2026, 11:26:58 PM
2026-09-18
$55.00
8/18/2026, 11:26:58 PM
2026-11-20
$60.00
8/18/2026, 11:26:58 PM
2027-02-19
$50.00
8/18/2026, 11:26:58 PM
Selected expiration: 2026-08-21 at max pain $60.00.
QTWO pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
22.5
0
2984250
2984250
25
0
2745500
2745500
30
4000
2269500
2273500
35
8000
1799000
1807000
40
12000
1375000
1387000
45
16000
1002500
1018500
50
26000
636500
662500
55
54000
331000
385000
60
98500
48500
147000
65
196500
23000
219500
70
351000
0
351000
75
548500
0
548500
80
757500
0
757500
85
970500
0
970500
90
1183500
0
1183500
95
1396500
0
1396500
100
1610000
0
1610000
105
1834500
0
1834500
110
2059500
0
2059500
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.