This page reflects RNR 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 — RNR
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $300.00 (20.72 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$300.00
Nearest expiry
Expected Move
±$4.95
±1.5%
Days to Expiry
3
Calendar days
Total Call OI
23
Nearest expiry
Total Put OI
23
Nearest expiry
P/C OI Ratio
1.00
Put-heavy
Spot Price
$320.72
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
$290.00
6/18/2026, 11:29:44 PM
2026-07-17
$270.00
7/17/2026, 11:29:29 PM
2026-08-21NextUpdated
$300.00
8/18/2026, 11:37:03 PM
2026-09-18
$330.00
8/18/2026, 11:37:03 PM
2026-10-16
$300.00
8/18/2026, 11:37:03 PM
2027-01-15
$290.00
8/18/2026, 11:37:03 PM
Selected expiration: 2026-08-21 at max pain $300.00.
RNR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
185
0
177500
177500
230
0
83000
83000
240
0
68000
68000
250
3000
53000
56000
260
6000
39000
45000
270
9000
26000
35000
280
12000
17000
29000
290
15000
10000
25000
300
18000
4000
22000
310
21000
1000
22000
320
24000
0
24000
330
30000
0
30000
340
38000
0
38000
350
53000
0
53000
360
70000
0
70000
370
91000
0
91000
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.