This page reflects REPL 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 — REPL
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $10.00 (5.58 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$10.00
Nearest expiry
Expected Move
±$2.05
±13.2%
Days to Expiry
3
Calendar days
Total Call OI
38,788
Nearest expiry
Total Put OI
43,508
Nearest expiry
P/C OI Ratio
1.12
Put-heavy
Spot Price
$15.58
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
2026-08-07
$11.00
8/7/2026, 11:30:41 PM
2026-08-14
$15.50
8/14/2026, 11:30:27 PM
2026-08-21NextUpdated
$10.00
8/18/2026, 11:27:18 PM
2026-08-28
$20.00
8/18/2026, 11:27:18 PM
2026-09-04
$13.50
8/18/2026, 11:27:18 PM
2026-09-11
$13.00
8/18/2026, 11:27:18 PM
2026-09-18
$15.00
8/18/2026, 11:27:18 PM
2026-09-25
$12.00
8/18/2026, 11:27:18 PM
2026-10-02
$11.00
8/18/2026, 11:27:18 PM
2026-11-20
$8.00
8/18/2026, 11:27:18 PM
2027-01-15
$2.00
8/18/2026, 11:27:18 PM
2027-02-19
$7.00
8/18/2026, 11:27:18 PM
Selected expiration: 2026-08-21 at max pain $10.00.
REPL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
23911950
23911950
1
250
21972050
21972300
1.5
1250
20249050
20250300
2
7300
18609850
18617150
2.5
26950
17066500
17093450
3
46600
15525150
15571750
3.5
93850
14144500
14238350
4
141100
12772550
12913650
4.5
207500
11418200
11625700
5
273900
10064000
10337900
5.5
397350
8994050
9391400
6
521350
7924150
8445500
6.5
671450
7063250
7734700
7
821750
6202550
7024300
7.5
986250
5456300
6442550
8
1150750
4710350
5861100
8.5
1335350
4140800
5476150
9
1522450
3571550
5094000
9.5
1745500
3158800
4904300
10
1968550
2746150
4714700
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.