This page reflects R 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 — R
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $220.00 (39.15 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$220.00
Nearest expiry
Expected Move
±$5.92
±2.3%
Days to Expiry
3
Calendar days
Total Call OI
375
Nearest expiry
Total Put OI
1,069
Nearest expiry
P/C OI Ratio
2.85
Put-heavy
Spot Price
$259.15
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
$250.00
6/18/2026, 11:30:34 PM
2026-07-17
$250.00
7/17/2026, 11:29:38 PM
2026-08-21NextUpdated
$220.00
8/18/2026, 11:32:32 PM
2026-09-18
$260.00
8/18/2026, 11:32:32 PM
2026-11-20
$250.00
8/18/2026, 11:32:32 PM
2027-02-19
$210.00
8/18/2026, 11:32:32 PM
Selected expiration: 2026-08-21 at max pain $220.00.
R pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
115
0
8018000
8018000
120
0
7484500
7484500
125
0
6951500
6951500
130
0
6420000
6420000
135
500
5890000
5890500
140
1500
5363500
5365000
145
2500
4839500
4842000
150
4000
4320500
4324500
155
6500
3802000
3808500
160
9000
3283500
3292500
165
12500
2767500
2780000
170
16000
2255500
2271500
175
22000
1746500
1768500
180
33500
1242000
1275500
185
45000
749500
794500
190
58000
650000
708000
195
71500
570500
642000
200
92500
508000
600500
210
168500
395000
563500
220
258500
285000
543500
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.