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SHOP

Shopify Inc.Close $146.58EOD only
Max Pain
$135.00
Next expiry Aug 21, 2026
Expected Move
±$5.09
3.5% from close
Price Gap
-11.58
Distance to max pain
IV Rank
8
Low premium
P/C OI
0.48
Slightly call-heavy
Consensus
4/4
Partial coverage
Published snapshot: Aug 18, 2026 close
End-of-day snapshot

This page reflects SHOP 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 — SHOP
Data as of market close Aug 18, 2026
Open Available Reports (4/4)

Nearest listed expiration 2026-08-21 shows max pain at $135.00 (11.58 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike
$135.00
Nearest expiry
Expected Move
±$5.09
±3.5%
Days to Expiry
3
Calendar days
Total Call OI
46,925
Nearest expiry
Total Put OI
47,043
Nearest expiry
P/C OI Ratio
1.00
Put-heavy
Spot Price
$146.58
Published close
Consensus
-
Open report for full read

Max Pain by Expiration

Pain by Strike

Drill into expiration
Selected: 2026-08-21
ExpirationMax Pain StrikeLast Updated
2026-08-07$130.008/7/2026, 11:36:27 PM
2026-08-14$145.008/14/2026, 11:31:55 PM
2026-08-21NextUpdated$135.008/18/2026, 11:38:52 PM
2026-08-28$135.008/18/2026, 11:38:52 PM
2026-09-04$142.008/18/2026, 11:38:52 PM
2026-09-11$143.008/18/2026, 11:38:52 PM
2026-09-18$125.008/18/2026, 11:38:52 PM
2026-09-25$149.008/18/2026, 11:38:52 PM
2026-10-02$135.008/18/2026, 11:38:52 PM
2026-10-16$135.008/18/2026, 11:38:52 PM
2026-11-20$130.008/18/2026, 11:38:52 PM
2026-12-18$125.008/18/2026, 11:38:52 PM
2027-01-15$130.008/18/2026, 11:38:52 PM
2027-03-19$120.008/18/2026, 11:38:52 PM
2027-06-17$135.008/18/2026, 11:38:52 PM
Selected expiration: 2026-08-21 at max pain $135.00.
SHOP pain by strike for 2026-08-21 expiration
StrikeCall PainPut PainTotal Pain
600276581550276581550
6514000253089550253103550
7028000229624050229652050
7550000207421550207471550
8075500185275550185351050
85113500163793550163907050
90162500142416050142578550
95214000121846050122060050
100282500102540050102822550
1013053009904285099348150
1023283009554965095877950
1033519009205745092409350
1043760008856805088944050
1054019008507895085480850
1064479008209545082543350
1074956007911825079613850
1085473007614765076694950
1096001007317985073779950
1106535007021315070866650
1117458006731785068063650
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.