This page reflects SA 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 — SA
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $27.00 (4.03 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$27.00
Nearest expiry
Expected Move
±$1.62
±5.2%
Days to Expiry
3
Calendar days
Total Call OI
19,011
Nearest expiry
Total Put OI
3,323
Nearest expiry
P/C OI Ratio
0.17
Put-heavy
Spot Price
$31.03
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
$31.00
6/18/2026, 11:30:33 PM
2026-07-17
$26.00
7/17/2026, 11:33:49 PM
2026-08-21NextUpdated
$27.00
8/18/2026, 11:29:40 PM
2026-09-18
$29.00
8/18/2026, 11:29:40 PM
2026-11-20
$22.00
8/18/2026, 11:29:40 PM
2027-01-15
$10.00
8/18/2026, 11:29:40 PM
2027-02-19
$25.00
8/18/2026, 11:29:40 PM
Selected expiration: 2026-08-21 at max pain $27.00.
SA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
14
0
3983000
3983000
15
300
3650700
3651000
16
18600
3321000
3339600
17
36900
2991300
3028200
18
57200
2661700
2718900
19
90500
2337700
2428200
20
123800
2049800
2173600
21
158300
1764100
1922400
22
195300
1479800
1675100
23
232300
1234300
1466600
24
269400
1005600
1275000
25
307700
812400
1120100
26
375200
655500
1030700
27
448900
524800
973700
28
657600
408000
1065600
29
896500
301100
1197600
30
1363300
215500
1578800
31
2253600
144100
2397700
32
3181900
89900
3271800
33
4157800
58900
4216700
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.