This page reflects RXO 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 — RXO
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $20.00 (2.63 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$20.00
Nearest expiry
Expected Move
±$1.35
±6.0%
Days to Expiry
3
Calendar days
Total Call OI
3,913
Nearest expiry
Total Put OI
8,939
Nearest expiry
P/C OI Ratio
2.28
Put-heavy
Spot Price
$22.63
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
$20.00
6/18/2026, 11:34:54 PM
2026-07-17
$25.00
7/17/2026, 11:31:51 PM
2026-08-21NextUpdated
$20.00
8/18/2026, 11:33:49 PM
2026-09-18
$22.50
8/18/2026, 11:33:49 PM
2026-11-20
$20.00
8/18/2026, 11:33:49 PM
2026-12-18
$25.00
8/18/2026, 11:33:49 PM
2027-01-15
$17.50
8/18/2026, 11:33:49 PM
2027-02-19
$25.00
8/18/2026, 11:33:49 PM
Selected expiration: 2026-08-21 at max pain $20.00.
RXO pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
10748750
10748750
5
0
8514000
8514000
7.5
0
6279250
6279250
10
250
4873250
4873500
12.5
750
3467250
3468000
15
5000
2285500
2290500
17.5
16500
1115750
1132250
20
61500
18250
79750
22.5
134000
6250
140250
25
233250
0
233250
30
1345250
0
1345250
35
2750750
0
2750750
40
4700250
0
4700250
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.