This page reflects SPXC 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 — SPXC
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $220.00 (7.34 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$220.00
Nearest expiry
Expected Move
±$8.10
±3.8%
Days to Expiry
3
Calendar days
Total Call OI
352
Nearest expiry
Total Put OI
683
Nearest expiry
P/C OI Ratio
1.94
Put-heavy
Spot Price
$212.66
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
$195.00
6/18/2026, 11:32:54 PM
2026-07-17
$210.00
7/17/2026, 11:28:09 PM
2026-08-21NextUpdated
$220.00
8/18/2026, 11:30:30 PM
2026-09-18
$200.00
8/18/2026, 11:30:30 PM
2026-12-18
$220.00
8/18/2026, 11:30:30 PM
2027-03-19
$185.00
8/18/2026, 11:30:30 PM
Selected expiration: 2026-08-21 at max pain $220.00.
SPXC pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
150
0
3700000
3700000
155
0
3362500
3362500
160
500
3028000
3028500
165
1500
2694500
2696000
170
2500
2408000
2410500
175
3500
2126500
2130000
180
6000
1846500
1852500
185
24500
1568500
1593000
190
44500
1291500
1336000
195
65000
1020000
1085000
200
86000
753000
839000
210
137000
257000
394000
220
196000
8000
204000
230
285000
0
285000
240
398000
0
398000
250
532000
0
532000
260
836000
0
836000
270
1157000
0
1157000
280
1480000
0
1480000
300
2140000
0
2140000
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.