This page reflects SKM 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 — SKM
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $35.00 (3.41 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$35.00
Nearest expiry
Expected Move
±$2.40
±6.3%
Days to Expiry
3
Calendar days
Total Call OI
19,370
Nearest expiry
Total Put OI
10,015
Nearest expiry
P/C OI Ratio
0.52
Put-heavy
Spot Price
$38.41
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
$35.00
6/18/2026, 11:31:18 PM
2026-07-17
$35.00
7/17/2026, 11:34:35 PM
2026-08-21NextUpdated
$35.00
8/18/2026, 11:29:38 PM
2026-09-18
$30.00
8/18/2026, 11:29:38 PM
2026-12-18
$35.00
8/18/2026, 11:29:38 PM
2027-01-15
$30.00
8/18/2026, 11:29:38 PM
2027-03-19
$30.00
8/18/2026, 11:29:38 PM
Selected expiration: 2026-08-21 at max pain $35.00.
SKM pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
8920250
8920250
22.5
0
6476500
6476500
25
0
4108500
4108500
30
18000
1138500
1156500
35
1049500
56000
1105500
40
5139500
5000
5144500
45
14206500
0
14206500
50
23484000
0
23484000
55
33059000
0
33059000
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.