This page reflects SMMT 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 — SMMT
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $14.50 (1.68 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$14.50
Nearest expiry
Expected Move
±$1.02
±8.0%
Days to Expiry
3
Calendar days
Total Call OI
8,363
Nearest expiry
Total Put OI
20,148
Nearest expiry
P/C OI Ratio
2.41
Put-heavy
Spot Price
$12.82
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
$13.00
8/7/2026, 11:38:21 PM
2026-08-14
$13.00
8/14/2026, 11:33:04 PM
2026-08-21NextUpdated
$14.50
8/18/2026, 11:29:31 PM
2026-08-28
$14.50
8/18/2026, 11:29:31 PM
2026-09-04
$14.00
8/18/2026, 11:29:31 PM
2026-09-11
$13.00
8/18/2026, 11:29:31 PM
2026-09-18
$13.00
8/18/2026, 11:29:31 PM
2026-09-25
$13.00
8/18/2026, 11:29:31 PM
2026-10-02
$13.00
8/18/2026, 11:29:31 PM
2026-10-16
$14.00
8/18/2026, 11:29:31 PM
2027-01-15
$14.00
8/18/2026, 11:29:31 PM
2027-03-19
$12.00
8/18/2026, 11:29:31 PM
2027-04-16
$9.00
8/18/2026, 11:29:31 PM
Selected expiration: 2026-08-21 at max pain $14.50.
SMMT pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
17760000
17760000
6
2000
15745600
15747600
7
5400
13733300
13738700
8
9500
11722100
11731600
9
13600
9711200
9724800
9.5
15650
8705800
8721450
10
17750
7700500
7718250
11
23750
5690400
5714150
11.5
27500
4696600
4724100
12
31250
3708150
3739400
12.5
36750
2882900
2919650
13
42250
2076650
2118900
13.5
56000
1378300
1434300
14
79550
690100
769650
14.5
117400
71100
188500
15
165550
47850
213400
15.5
339900
31650
371550
16
519400
16050
535450
16.5
787250
14000
801250
17
1056400
11950
1068350
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.