This page reflects SWBI 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 — SWBI
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $15.00 (0.88 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$15.00
Nearest expiry
Expected Move
±$0.50
±3.5%
Days to Expiry
2
Calendar days
Total Call OI
1,023
Nearest expiry
Total Put OI
303
Nearest expiry
P/C OI Ratio
0.30
Put-heavy
Spot Price
$14.12
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
$12.00
6/18/2026, 11:32:42 PM
2026-07-17
$14.00
7/17/2026, 11:33:04 PM
2026-08-21NextUpdated
$15.00
8/19/2026, 11:38:41 PM
2026-09-18
$13.00
8/19/2026, 11:38:41 PM
2026-12-18
$14.00
8/19/2026, 11:38:41 PM
2027-01-15
$10.00
8/19/2026, 11:38:41 PM
2027-03-19
$14.00
8/19/2026, 11:38:41 PM
Selected expiration: 2026-08-21 at max pain $15.00.
SWBI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
6
0
247500
247500
7
200
217500
217700
8
400
187700
188100
10
800
128100
128900
12
3200
68500
71700
13
4500
38800
43300
14
6300
11800
18100
15
8400
900
9300
16
20900
100
21000
17
45300
0
45300
18
103500
0
103500
19
185500
0
185500
20
286400
0
286400
22
488800
0
488800
25
792700
0
792700
35
1814700
0
1814700
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.