This page reflects TAC 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 — TAC
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $13.00 (0.62 above 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
±$0.73
±5.9%
Days to Expiry
2
Calendar days
Total Call OI
11,220
Nearest expiry
Total Put OI
2,192
Nearest expiry
P/C OI Ratio
0.20
Put-heavy
Spot Price
$12.38
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, 11:31:33 PM
2026-07-17
$13.00
7/17/2026, 11:35:50 PM
2026-08-21NextUpdated
$13.00
8/19/2026, 11:36:45 PM
2026-09-18
$11.00
8/19/2026, 11:36:45 PM
2026-11-20
$11.00
8/19/2026, 11:36:45 PM
2026-12-18
$12.00
8/19/2026, 11:36:45 PM
2027-03-19
$11.00
8/19/2026, 11:36:45 PM
Selected expiration: 2026-08-21 at max pain $13.00.
TAC pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
3
0
1863900
1863900
5
200
1425700
1425900
7
2400
987500
989900
8
3600
768500
772100
9
4900
549600
554500
10
6200
330700
336900
11
8700
221500
230200
12
11400
112300
123700
13
16800
8400
25200
14
92900
4800
97700
15
246200
1900
248100
16
860700
1600
862300
17
1498800
1300
1500100
18
2233500
1100
2234600
20
3760900
700
3761600
21
4697800
500
4698300
22
5639700
300
5640000
25
8493900
0
8493900
30
13408900
0
13408900
35
18325400
0
18325400
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.