This page reflects SATL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 20, 2026 close
Max Pain — SATL
Data as of market close Aug 20, 2026
Nearest listed expiration 2026-08-21 shows max pain at $4.00 (1.30 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$4.00
Nearest expiry
Expected Move
±$0.30
±5.7%
Days to Expiry
1
Calendar days
Total Call OI
34,036
Nearest expiry
Total Put OI
8,012
Nearest expiry
P/C OI Ratio
0.24
Put-heavy
Spot Price
$5.30
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
$7.00
6/18/2026, 11:30:27 PM
2026-07-17
$5.00
7/17/2026, 11:30:59 PM
2026-08-21NextUpdated
$4.00
8/20/2026, 11:27:16 PM
2026-09-18
$3.00
8/20/2026, 11:27:16 PM
2026-11-20
$6.00
8/20/2026, 11:27:16 PM
2027-01-15
$6.00
8/20/2026, 11:27:16 PM
2027-02-19
$3.00
8/20/2026, 11:27:16 PM
Selected expiration: 2026-08-21 at max pain $4.00.
SATL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
2916850
2916850
1
950
2516350
2517300
1.5
3950
2115900
2119850
2
22900
1716000
1738900
2.5
166150
1332800
1498950
4
666700
494300
1161000
5
1211500
206200
1417700
6
2370600
110000
2480600
7.5
4391400
2150
4393550
9
7732050
200
7732250
10
10045050
100
10045150
11
13213750
0
13213750
12
16434550
0
16434550
13
19710350
0
19710350
14
23004650
0
23004650
15
26313950
0
26313950
16
29659750
0
29659750
17
33027350
0
33027350
20
43203950
0
43203950
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.