This page reflects STLD 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 — STLD
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $240.00 (9.81 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$240.00
Nearest expiry
Expected Move
±$8.05
±3.2%
Days to Expiry
3
Calendar days
Total Call OI
5,822
Nearest expiry
Total Put OI
3,038
Nearest expiry
P/C OI Ratio
0.52
Put-heavy
Spot Price
$249.81
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
$210.00
6/18/2026, 11:38:48 PM
2026-07-17
$230.00
7/17/2026, 11:37:33 PM
2026-08-21NextUpdated
$240.00
8/18/2026, 11:39:12 PM
2026-09-18
$200.00
8/18/2026, 11:39:12 PM
2026-11-20
$250.00
8/18/2026, 11:39:12 PM
2026-12-18
$230.00
8/18/2026, 11:39:12 PM
2027-01-15
$180.00
8/18/2026, 11:39:12 PM
2027-02-19
$230.00
8/18/2026, 11:39:12 PM
2027-03-19
$250.00
8/18/2026, 11:39:12 PM
2027-06-17
$150.00
8/18/2026, 11:39:12 PM
Selected expiration: 2026-08-21 at max pain $240.00.
STLD pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
95
0
35879500
35879500
100
0
34360500
34360500
110
0
31323500
31323500
115
1500
29807000
29808500
130
6000
25257500
25263500
135
7500
23741500
23749000
140
12000
22227500
22239500
145
16500
20715000
20731500
150
21000
19218500
19239500
155
26000
17730000
17756000
160
33000
16241500
16274500
165
40000
14768000
14808000
170
47000
13308000
13355000
175
61000
11895500
11956500
180
77000
10498000
10575000
185
117500
9150000
9267500
190
164500
7848500
8013000
195
288000
6589500
6877500
200
416000
5366000
5782000
210
692000
3812000
4504000
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.