This page reflects SGHC 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 — SGHC
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $14.00 (1.18 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$14.00
Nearest expiry
Expected Move
±$0.40
±3.1%
Days to Expiry
3
Calendar days
Total Call OI
53,151
Nearest expiry
Total Put OI
19,772
Nearest expiry
P/C OI Ratio
0.37
Put-heavy
Spot Price
$12.82
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
$10.00
6/18/2026, 11:31:20 PM
2026-07-17
$9.75
7/17/2026, 11:28:26 PM
2026-08-21NextUpdated
$14.00
8/18/2026, 11:37:23 PM
2026-09-18
$13.00
8/18/2026, 11:37:23 PM
2026-10-16
$13.00
8/18/2026, 11:37:23 PM
2026-12-18
$11.75
8/18/2026, 11:37:23 PM
2027-01-15
$13.00
8/18/2026, 11:37:23 PM
Selected expiration: 2026-08-21 at max pain $14.00.
SGHC pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
9
0
9609200
9609200
10
100
7632000
7632100
11
300
5655000
5655300
12
4900
3734800
3739700
13
49400
1870900
1920300
14
137100
24100
161200
15
4921000
4600
4925600
16
10087900
100
10088000
17
15348300
0
15348300
18
20639700
0
20639700
19
25932900
0
25932900
20
31241800
0
31241800
21
36556500
0
36556500
22
41871200
0
41871200
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.