This page reflects TAL 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 — TAL
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $11.00 (1.03 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$11.00
Nearest expiry
Expected Move
±$0.32
±2.7%
Days to Expiry
3
Calendar days
Total Call OI
16,065
Nearest expiry
Total Put OI
28,908
Nearest expiry
P/C OI Ratio
1.80
Put-heavy
Spot Price
$12.03
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
$11.00
6/18/2026, 11:34:00 PM
2026-07-17
$9.00
7/17/2026, 11:36:13 PM
2026-08-21NextUpdated
$11.00
8/18/2026, 11:37:53 PM
2026-09-18
$11.00
8/18/2026, 11:37:53 PM
2026-10-16
$12.00
8/18/2026, 11:37:53 PM
2026-11-20
$10.00
8/18/2026, 11:37:53 PM
2027-01-15
$15.00
8/18/2026, 11:37:53 PM
2027-02-19
$11.00
8/18/2026, 11:37:53 PM
Selected expiration: 2026-08-21 at max pain $11.00.
TAL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
3
0
17757900
17757900
4
600
14867100
14867700
5
2200
11976400
11978600
6
4000
9085700
9089700
7
6200
6195000
6201200
8
8800
3304300
3313100
9
12600
432600
445200
10
42700
197500
240200
11
115100
60700
175800
12
392700
15300
408000
13
1784300
7200
1791500
14
3339000
5400
3344400
15
4931600
3600
4935200
16
6534100
1800
6535900
17
8136600
0
8136600
18
9740000
0
9740000
19
11344200
0
11344200
20
12948900
0
12948900
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.