This page reflects RAL 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 — RAL
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $70.00 (0.51 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$70.00
Nearest expiry
Expected Move
±$2.58
±3.7%
Days to Expiry
3
Calendar days
Total Call OI
1,587
Nearest expiry
Total Put OI
5,958
Nearest expiry
P/C OI Ratio
3.75
Put-heavy
Spot Price
$69.49
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
$60.00
6/18/2026, 11:27:46 PM
2026-07-17
$70.00
7/17/2026, 11:34:26 PM
2026-08-21NextUpdated
$70.00
8/18/2026, 11:36:12 PM
2026-09-18
$70.00
8/18/2026, 11:36:12 PM
2026-11-20
$60.00
8/18/2026, 11:36:12 PM
2027-02-19
$35.00
8/18/2026, 11:36:12 PM
Selected expiration: 2026-08-21 at max pain $70.00.
RAL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
22.5
0
25641500
25641500
25
8250
24152000
24160250
30
24750
21173000
21197750
35
42250
18194000
18236250
40
66250
15225000
15291250
45
90250
12262500
12352750
50
120250
9304500
9424750
55
166750
6658000
6824750
60
213250
4036000
4249250
65
262250
1433000
1695250
70
327750
39500
367250
75
502750
0
502750
80
806250
0
806250
85
1166250
0
1166250
90
1952250
0
1952250
95
2741750
0
2741750
100
3532750
0
3532750
105
4325250
0
4325250
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.