This page reflects SPGI 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 — SPGI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $422.50 (4.46 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$422.50
Nearest expiry
Expected Move
±$8.40
±2.0%
Days to Expiry
3
Calendar days
Total Call OI
2,603
Nearest expiry
Total Put OI
2,221
Nearest expiry
P/C OI Ratio
0.85
Put-heavy
Spot Price
$418.04
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
$420.00
8/7/2026, 11:32:50 PM
2026-08-14
$412.50
8/14/2026, 11:32:49 PM
2026-08-21NextUpdated
$422.50
8/18/2026, 11:30:52 PM
2026-08-28
$420.00
8/18/2026, 11:30:52 PM
2026-09-04
$410.00
8/18/2026, 11:30:52 PM
2026-09-11
$420.00
8/18/2026, 11:30:52 PM
2026-09-18
$440.00
8/18/2026, 11:30:52 PM
2026-09-25
$400.00
8/18/2026, 11:30:52 PM
2026-10-02
$395.00
8/18/2026, 11:30:52 PM
2026-10-16
$420.00
8/18/2026, 11:30:52 PM
2026-11-20
$430.00
8/18/2026, 11:30:52 PM
2026-12-18
$500.00
8/18/2026, 11:30:52 PM
2027-01-15
$500.00
8/18/2026, 11:30:52 PM
2027-02-19
$410.00
8/18/2026, 11:30:52 PM
2027-03-19
$420.00
8/18/2026, 11:30:52 PM
2027-06-17
$440.00
8/18/2026, 11:30:52 PM
Selected expiration: 2026-08-21 at max pain $422.50.
SPGI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
230
0
36140250
36140250
240
0
33930250
33930250
250
0
31726250
31726250
260
0
29523250
29523250
270
0
27320250
27320250
280
0
25130250
25130250
290
0
22947250
22947250
300
0
20774250
20774250
310
0
18607250
18607250
320
0
16446250
16446250
330
0
14288250
14288250
340
3000
12132250
12135250
350
6000
10049250
10055250
355
19500
9018750
9038250
360
33500
7988250
8021750
365
47500
7177250
7224750
370
61500
6367250
6428750
375
83000
5573250
5656250
380
105000
4781750
4886750
385
129000
4026750
4155750
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.