This page reflects SNEX 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 — SNEX
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $85.00 (18.60 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$85.00
Nearest expiry
Expected Move
±$4.40
±6.6%
Days to Expiry
3
Calendar days
Total Call OI
639
Nearest expiry
Total Put OI
341
Nearest expiry
P/C OI Ratio
0.53
Put-heavy
Spot Price
$66.40
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
$125.00
6/18/2026, 11:31:43 PM
2026-07-17
$110.00
7/17/2026, 11:37:38 PM
2026-08-21NextUpdated
$85.00
8/18/2026, 11:37:47 PM
2026-09-18
$65.00
8/18/2026, 11:37:47 PM
2026-10-16
$110.00
8/18/2026, 11:37:47 PM
2026-12-18
$120.00
8/18/2026, 11:37:47 PM
2027-01-15
$70.00
8/18/2026, 11:37:47 PM
Selected expiration: 2026-08-21 at max pain $85.00.
SNEX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
1859000
1859000
60
0
1519000
1519000
65
500
1358000
1358500
70
5500
1207500
1213000
75
43000
1068000
1111000
80
89000
931000
1020000
85
205500
794500
1000000
90
367500
658000
1025500
95
549500
521500
1071000
100
731500
386000
1117500
105
914500
283000
1197500
110
1098500
186500
1285000
115
1282500
107000
1389500
120
1475500
62500
1538000
125
1692000
36500
1728500
130
1919500
15000
1934500
135
2173500
3500
2177000
140
2441000
1000
2442000
145
2730500
0
2730500
150
3036000
0
3036000
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.