This page reflects S 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 — S
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $19.00 (3.49 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$19.00
Nearest expiry
Expected Move
±$0.90
±4.0%
Days to Expiry
3
Calendar days
Total Call OI
29,186
Nearest expiry
Total Put OI
9,256
Nearest expiry
P/C OI Ratio
0.32
Put-heavy
Spot Price
$22.49
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
$18.00
8/7/2026, 11:30:02 PM
2026-08-14
$20.00
8/14/2026, 11:35:15 PM
2026-08-21NextUpdated
$19.00
8/18/2026, 11:29:25 PM
2026-08-28
$18.00
8/18/2026, 11:29:25 PM
2026-09-04
$19.00
8/18/2026, 11:29:25 PM
2026-09-11
$20.50
8/18/2026, 11:29:25 PM
2026-09-18
$15.00
8/18/2026, 11:29:25 PM
2026-09-25
$23.50
8/18/2026, 11:29:25 PM
2026-10-02
$21.00
8/18/2026, 11:29:25 PM
2026-12-18
$16.00
8/18/2026, 11:29:25 PM
2027-01-15
$15.00
8/18/2026, 11:29:25 PM
2027-03-19
$23.00
8/18/2026, 11:29:25 PM
Selected expiration: 2026-08-21 at max pain $19.00.
S pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
13773350
13773350
7
1000
11922150
11923150
8
1800
10996550
10998350
9
2800
10070950
10073750
10
4900
9145350
9150250
11
8100
8219750
8227850
12
12000
7294150
7306150
12.5
14250
6832900
6847150
13
16800
6371650
6388450
14
21900
5484650
5506550
14.5
30800
5045600
5076400
15
39700
4606600
4646300
15.5
50850
4171300
4222150
16
62000
3736900
3798900
16.5
81150
3341650
3422800
17
116100
2952650
3068750
17.5
238950
2583650
2822600
18
362650
2228050
2590700
18.5
604650
1896700
2501350
19
850050
1573650
2423700
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.