This page reflects RBC 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 — RBC
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $540.00 (5.65 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$540.00
Nearest expiry
Expected Move
±$13.25
±2.4%
Days to Expiry
3
Calendar days
Total Call OI
156
Nearest expiry
Total Put OI
88
Nearest expiry
P/C OI Ratio
0.56
Put-heavy
Spot Price
$545.65
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
$580.00
6/18/2026, 11:25:26 PM
2026-07-17
$580.00
7/17/2026, 11:27:18 PM
2026-08-21NextUpdated
$540.00
8/18/2026, 11:38:13 PM
2026-09-18
$580.00
8/18/2026, 11:38:13 PM
2026-10-16
$570.00
8/18/2026, 11:38:13 PM
2026-11-20
$480.00
8/18/2026, 11:38:13 PM
2027-01-15
$470.00
8/18/2026, 11:38:13 PM
Selected expiration: 2026-08-21 at max pain $540.00.
RBC pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
195
0
2537000
2537000
200
500
2497000
2497500
210
2500
2417000
2419500
220
5500
2337000
2342500
230
11500
2257000
2268500
240
18500
2177000
2195500
250
26500
2097000
2123500
280
68500
1857000
1925500
350
173500
1297000
1470500
360
189500
1218000
1407500
370
205500
1139000
1344500
380
221500
1060000
1281500
390
238500
981000
1219500
410
272500
823000
1095500
420
290500
744000
1034500
460
370500
428000
798500
480
410500
286000
696500
490
430500
227000
657500
500
451500
183000
634500
510
472500
146000
618500
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.