This page reflects SRE 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 — SRE
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $90.00 (2.82 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$90.00
Nearest expiry
Expected Move
±$2.70
±3.1%
Days to Expiry
3
Calendar days
Total Call OI
6,173
Nearest expiry
Total Put OI
1,712
Nearest expiry
P/C OI Ratio
0.28
Put-heavy
Spot Price
$87.18
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
$90.00
6/18/2026, 11:37:43 PM
2026-07-17
$95.00
7/17/2026, 11:33:22 PM
2026-08-21NextUpdated
$90.00
8/18/2026, 11:38:36 PM
2026-09-18
$90.00
8/18/2026, 11:38:36 PM
2026-10-16
$90.00
8/18/2026, 11:38:36 PM
2026-11-20
$90.00
8/18/2026, 11:38:36 PM
2027-01-15
$85.00
8/18/2026, 11:38:36 PM
Selected expiration: 2026-08-21 at max pain $90.00.
SRE pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
5913500
5913500
55
0
5059500
5059500
60
0
4208000
4208000
65
0
3356500
3356500
70
500
2505000
2505500
75
3500
1674500
1678000
80
6500
875500
882000
85
13000
337500
350500
90
53000
7000
60000
95
244000
3500
247500
100
1388000
0
1388000
105
3365500
0
3365500
110
6068500
0
6068500
115
9133500
0
9133500
120
12218000
0
12218000
125
15304500
0
15304500
130
18391000
0
18391000
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.