This page reflects TDC 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 — TDC
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $32.50 (4.03 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$32.50
Nearest expiry
Expected Move
±$1.22
±4.3%
Days to Expiry
3
Calendar days
Total Call OI
6,080
Nearest expiry
Total Put OI
6,441
Nearest expiry
P/C OI Ratio
1.06
Put-heavy
Spot Price
$28.47
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
$30.00
6/18/2026, 11:32:43 PM
2026-07-17
$30.00
7/17/2026, 11:31:17 PM
2026-08-21NextUpdated
$32.50
8/18/2026, 11:38:59 PM
2026-09-18
$27.50
8/18/2026, 11:38:59 PM
2026-10-16
$30.00
8/18/2026, 11:38:59 PM
2027-01-15
$30.00
8/18/2026, 11:38:59 PM
Selected expiration: 2026-08-21 at max pain $32.50.
TDC pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
17.5
0
8680750
8680750
20
250
7123000
7123250
22.5
4500
5582500
5587000
25
9000
4076000
4085000
27.5
42000
2658750
2700750
30
116250
1331500
1447750
32.5
244000
35500
279500
35
1431250
18750
1450000
37.5
2701000
6250
2707250
40
3991000
0
3991000
42.5
5309500
0
5309500
45
6773500
0
6773500
47.5
8252500
0
8252500
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.