This page reflects RBA 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 — RBA
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $92.50 (6.32 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$92.50
Nearest expiry
Expected Move
±$3.27
±3.8%
Days to Expiry
2
Calendar days
Total Call OI
1,534
Nearest expiry
Total Put OI
61
Nearest expiry
P/C OI Ratio
0.04
Put-heavy
Spot Price
$86.18
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, 11:32:50 PM
2026-07-17
$105.00
7/17/2026, 11:27:03 PM
2026-08-21NextUpdated
$92.50
8/19/2026, 11:30:40 PM
2026-09-18
$95.00
8/19/2026, 11:30:40 PM
2026-12-18
$100.00
8/19/2026, 11:30:40 PM
2027-03-19
$90.00
8/19/2026, 11:30:40 PM
Selected expiration: 2026-08-21 at max pain $92.50.
RBA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
85
0
26500
26500
87.5
750
14500
15250
90
2250
8000
10250
92.5
7000
1500
8500
95
17000
500
17500
97.5
56000
250
56250
100
95250
0
95250
105
228750
0
228750
110
368250
0
368250
115
721250
0
721250
120
1123250
0
1123250
125
1857250
0
1857250
130
2593250
0
2593250
140
4066250
0
4066250
145
4807750
0
4807750
150
5551250
0
5551250
155
6298750
0
6298750
160
7050250
0
7050250
165
7808750
0
7808750
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.