This page reflects SHEL 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 — SHEL
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $90.00 (2.01 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$90.00
Nearest expiry
Expected Move
±$1.73
±1.9%
Days to Expiry
3
Calendar days
Total Call OI
27,922
Nearest expiry
Total Put OI
11,344
Nearest expiry
P/C OI Ratio
0.41
Put-heavy
Spot Price
$92.01
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
$87.00
8/7/2026, 11:31:28 PM
2026-08-14
$90.00
8/14/2026, 11:29:50 PM
2026-08-21NextUpdated
$90.00
8/18/2026, 11:35:53 PM
2026-08-28
$87.00
8/18/2026, 11:35:53 PM
2026-09-04
$92.00
8/18/2026, 11:35:53 PM
2026-09-11
$89.00
8/18/2026, 11:35:53 PM
2026-09-18
$85.00
8/18/2026, 11:35:53 PM
2026-09-25
$82.00
8/18/2026, 11:35:53 PM
2026-10-02
$94.00
8/18/2026, 11:35:53 PM
2026-10-16
$82.50
8/18/2026, 11:35:53 PM
2026-12-18
$82.50
8/18/2026, 11:35:53 PM
2027-01-15
$67.50
8/18/2026, 11:35:53 PM
2027-03-19
$82.50
8/18/2026, 11:35:53 PM
2027-06-17
$90.00
8/18/2026, 11:35:53 PM
Selected expiration: 2026-08-21 at max pain $90.00.
SHEL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
45
0
40944250
40944250
50
0
35273750
35273750
55
0
29603750
29603750
60
0
23934250
23934250
65
0
18270750
18270750
67.5
0
15482000
15482000
70
0
12697000
12697000
72.5
0
10086000
10086000
75
0
7802250
7802250
76
300
6959350
6959650
77
700
6146450
6147150
77.5
900
5740000
5740900
78
1150
5408950
5410100
79
1850
4754150
4756000
80
2650
4165950
4168600
81
3550
3592150
3595700
82
4450
3019750
3024200
82.5
5000
2735300
2740300
83
5900
2491900
2497800
84
7700
2008900
2016600
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.