This page reflects SNDX 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 — SNDX
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $20.00 (0.08 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$20.00
Nearest expiry
Expected Move
±$0.70
±3.5%
Days to Expiry
3
Calendar days
Total Call OI
1,406
Nearest expiry
Total Put OI
1,181
Nearest expiry
P/C OI Ratio
0.84
Put-heavy
Spot Price
$19.92
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
$20.00
6/18/2026, 11:28:46 PM
2026-07-17
$19.00
7/17/2026, 11:37:31 PM
2026-08-21NextUpdated
$20.00
8/18/2026, 11:28:33 PM
2026-09-18
$22.00
8/18/2026, 11:28:33 PM
2026-10-16
$23.00
8/18/2026, 11:28:33 PM
2026-11-20
$22.00
8/18/2026, 11:28:33 PM
2027-01-15
$15.00
8/18/2026, 11:28:33 PM
Selected expiration: 2026-08-21 at max pain $20.00.
SNDX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
13
0
735500
735500
14
0
617800
617800
15
200
500300
500500
16
2100
383800
385900
17
4100
268600
272700
18
6400
161500
167900
19
8900
72300
81200
20
12700
7600
20300
21
44100
4500
48600
22
82000
3000
85000
23
130200
1800
132000
24
187600
1000
188600
25
259300
700
260000
26
377900
600
378500
27
499600
500
500100
28
625800
400
626200
29
754400
300
754700
30
883500
200
883700
31
1023000
100
1023100
32
1162500
0
1162500
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.