This page reflects SPIR options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 19, 2026 close
Max Pain — SPIR
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $13.00 (0.70 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$13.00
Nearest expiry
Expected Move
±$0.88
±6.4%
Days to Expiry
2
Calendar days
Total Call OI
6,356
Nearest expiry
Total Put OI
4,651
Nearest expiry
P/C OI Ratio
0.73
Put-heavy
Spot Price
$13.70
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
$18.00
6/18/2026, 11:31:26 PM
2026-07-17
$14.00
7/17/2026, 11:34:50 PM
2026-08-21NextUpdated
$13.00
8/19/2026, 11:31:23 PM
2026-09-18
$14.00
8/19/2026, 11:31:23 PM
2026-10-16
$15.00
8/19/2026, 11:31:23 PM
2026-11-20
$18.00
8/19/2026, 11:31:23 PM
2027-01-15
$15.00
8/19/2026, 11:31:23 PM
2027-02-19
$10.00
8/19/2026, 11:31:23 PM
Selected expiration: 2026-08-21 at max pain $13.00.
SPIR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
3807700
3807700
2
800
3342600
3343400
3
1600
2877700
2879300
4
2400
2413000
2415400
5
3200
1950400
1953600
6
4900
1491900
1496800
7
8000
1144000
1152000
8
21300
909700
931000
9
43800
696900
740700
10
68400
538700
607100
11
115500
410500
526000
12
168500
303100
471600
13
245100
204600
449700
14
337400
163700
501100
15
454100
132300
586400
16
622300
110200
732500
17
877800
91300
969100
18
1170900
76200
1247100
19
1479900
62700
1542600
20
1808300
51100
1859400
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.