D/B/A Sibanye-Stillwater LimiteClose $10.56EOD only
Max Pain
$9.00
Next expiry Aug 21, 2026
Expected Move
±$0.65
6.2% from close
Price Gap
-1.56
Distance to max pain
IV Rank
8
Low premium
P/C OI
0.35
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Aug 18, 2026 close
End-of-day snapshot
This page reflects SBSW 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 — SBSW
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $9.00 (1.56 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$9.00
Nearest expiry
Expected Move
±$0.65
±6.2%
Days to Expiry
3
Calendar days
Total Call OI
9,053
Nearest expiry
Total Put OI
10,175
Nearest expiry
P/C OI Ratio
1.12
Put-heavy
Spot Price
$10.56
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
$11.00
6/18/2026, 11:30:52 PM
2026-07-17
$10.00
7/17/2026, 11:32:54 PM
2026-08-21NextUpdated
$9.00
8/18/2026, 11:39:32 PM
2026-09-18
$10.00
8/18/2026, 11:39:32 PM
2026-10-16
$10.00
8/18/2026, 11:39:32 PM
2027-01-15
$7.00
8/18/2026, 11:39:32 PM
Selected expiration: 2026-08-21 at max pain $9.00.
SBSW pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
3
0
4976800
4976800
4
0
3959400
3959400
5
0
2942100
2942100
6
200
1936800
1937000
7
6500
933700
940200
8
13600
485100
498700
9
40700
237400
278100
10
265600
25700
291300
11
777000
5100
782100
12
1555800
700
1556500
13
2453700
400
2454100
14
3354500
100
3354600
15
4257900
0
4257900
16
5162700
0
5162700
17
6067700
0
6067700
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.