This page reflects SJM 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 — SJM
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $120.00 (1.50 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$120.00
Nearest expiry
Expected Move
±$2.95
±2.5%
Days to Expiry
3
Calendar days
Total Call OI
1,977
Nearest expiry
Total Put OI
1,222
Nearest expiry
P/C OI Ratio
0.62
Put-heavy
Spot Price
$118.50
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
$105.00
6/18/2026, 11:31:16 PM
2026-07-17
$100.00
7/17/2026, 11:32:56 PM
2026-08-21NextUpdated
$120.00
8/18/2026, 11:30:33 PM
2026-09-18
$110.00
8/18/2026, 11:30:33 PM
2026-10-16
$115.00
8/18/2026, 11:30:33 PM
2027-01-15
$100.00
8/18/2026, 11:30:33 PM
Selected expiration: 2026-08-21 at max pain $120.00.
SJM pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
5857000
5857000
65
0
5246000
5246000
70
0
4635000
4635000
75
0
4024000
4024000
80
0
3413000
3413000
85
0
2804000
2804000
90
0
2205000
2205000
95
0
1615000
1615000
100
0
1094000
1094000
105
0
706500
706500
110
0
366000
366000
115
500
145000
145500
120
1500
9500
11000
125
445000
0
445000
130
1299500
0
1299500
135
2260000
0
2260000
140
3240000
0
3240000
165
8170000
0
8170000
170
9156500
0
9156500
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.