This page reflects TDW 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 — TDW
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $75.00 (19.13 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$75.00
Nearest expiry
Expected Move
±$2.90
±3.1%
Days to Expiry
3
Calendar days
Total Call OI
639
Nearest expiry
Total Put OI
366
Nearest expiry
P/C OI Ratio
0.57
Put-heavy
Spot Price
$94.13
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
$75.00
6/18/2026, 11:34:30 PM
2026-07-17
$70.00
7/17/2026, 11:39:00 PM
2026-08-21NextUpdated
$75.00
8/18/2026, 11:39:50 PM
2026-09-18
$85.00
8/18/2026, 11:39:50 PM
2026-10-16
$75.00
8/18/2026, 11:39:50 PM
2027-01-15
$70.00
8/18/2026, 11:39:50 PM
Selected expiration: 2026-08-21 at max pain $75.00.
TDW pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
945000
945000
45
500
762000
762500
50
1500
579000
580500
55
2500
399000
401500
60
3500
271000
274500
65
4500
150500
155000
70
16000
93500
109500
75
47500
53500
101000
80
134000
33500
167500
85
249500
17000
266500
90
443000
7000
450000
95
731500
0
731500
100
1046500
0
1046500
110
1679500
0
1679500
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.