This page reflects TARS 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 — TARS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $60.00 (11.03 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$60.00
Nearest expiry
Expected Move
±$2.98
±4.2%
Days to Expiry
3
Calendar days
Total Call OI
691
Nearest expiry
Total Put OI
3,956
Nearest expiry
P/C OI Ratio
5.73
Put-heavy
Spot Price
$71.03
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
$60.00
6/18/2026, 11:33:10 PM
2026-07-17
$60.00
7/17/2026, 11:34:41 PM
2026-08-21NextUpdated
$60.00
8/18/2026, 11:36:19 PM
2026-09-18
$45.00
8/18/2026, 11:36:19 PM
2026-10-16
$60.00
8/18/2026, 11:36:19 PM
2026-12-18
$60.00
8/18/2026, 11:36:19 PM
2027-01-15
$70.00
8/18/2026, 11:36:19 PM
2027-03-19
$35.00
8/18/2026, 11:36:19 PM
Selected expiration: 2026-08-21 at max pain $60.00.
TARS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
8819000
8819000
40
0
6841500
6841500
45
0
4865500
4865500
47.5
0
3971000
3971000
50
0
3077000
3077000
55
0
1541500
1541500
57.5
1250
774250
775500
60
3000
9250
12250
62.5
29250
4000
33250
65
58500
750
59250
67.5
153000
0
153000
70
248000
0
248000
75
558000
0
558000
80
893500
0
893500
85
1233500
0
1233500
90
1576500
0
1576500
95
1920000
0
1920000
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.