Nearest listed expiration 2026-08-21 shows max pain at $31.00 (7.28 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$31.00
Nearest expiry
Expected Move
±$2.66
±7.0%
Days to Expiry
4
Calendar days
Total Call OI
327,459
Nearest expiry
Total Put OI
138,684
Nearest expiry
P/C OI Ratio
0.42
Put-heavy
Spot Price
$38.28
Published close
Consensus
5.5/10
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
$28.00
8/7/2026, 11:38:04 PM
2026-08-14
$31.00
8/14/2026, 11:30:51 PM
2026-08-21NextUpdated
$31.00
8/17/2026, 11:41:02 PM
2026-08-28
$33.00
8/17/2026, 11:41:02 PM
2026-09-04
$32.00
8/17/2026, 11:41:02 PM
2026-09-11
$34.00
8/17/2026, 11:41:02 PM
2026-09-18
$33.00
8/17/2026, 11:41:02 PM
2026-09-25
$35.00
8/17/2026, 11:41:02 PM
2026-10-02
$38.00
8/17/2026, 11:41:02 PM
2026-11-20
$34.00
8/17/2026, 11:41:02 PM
2026-12-18
$40.00
8/17/2026, 11:41:02 PM
2027-01-15
$35.00
8/17/2026, 11:41:02 PM
2027-02-19
$30.00
8/17/2026, 11:41:02 PM
2027-03-19
$30.00
8/17/2026, 11:41:02 PM
2027-06-17
$30.00
8/17/2026, 11:41:02 PM
Selected expiration: 2026-08-21 at max pain $31.00.
SMCI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
375664150
375664150
2
17300
361796950
361814250
3
34900
347930750
347965650
4
52500
334065050
334117550
5
70100
320199350
320269450
6
87900
306334650
306422550
7
105900
292470350
292576250
8
123900
278606050
278729950
9
141900
264743050
264884950
10
159900
250905750
251065650
11
188300
237072850
237261150
12
217800
223241950
223459750
13
248000
209443450
209691450
14
278600
195659950
195938550
15
311300
182382050
182693350
16
372100
169378450
169750550
17
443600
156483550
156927150
18
516900
144444850
144961750
19
600600
132645050
133245650
20
699200
120937750
121636950
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.