This page reflects TE options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 17, 2026 close
Max Pain — TE
Data as of market close Aug 17, 2026
Nearest listed expiration 2026-08-21 shows max pain at $5.00 (0.12 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$5.00
Nearest expiry
Expected Move
±$0.50
±10.3%
Days to Expiry
4
Calendar days
Total Call OI
93,512
Nearest expiry
Total Put OI
29,215
Nearest expiry
P/C OI Ratio
0.31
Put-heavy
Spot Price
$4.88
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
2026-08-07
$4.00
8/7/2026, 11:34:33 PM
2026-08-14
$5.50
8/14/2026, 11:36:04 PM
2026-08-21NextUpdated
$5.00
8/17/2026, 11:37:42 PM
2026-08-28
$5.50
8/17/2026, 11:37:42 PM
2026-09-04
$5.00
8/17/2026, 11:37:42 PM
2026-09-11
$5.00
8/17/2026, 11:37:42 PM
2026-09-18
$6.00
8/17/2026, 11:37:42 PM
2026-09-25
$5.50
8/17/2026, 11:37:42 PM
2026-10-02
$5.50
8/17/2026, 11:37:42 PM
2026-10-16
$6.00
8/17/2026, 11:37:42 PM
2026-12-18
$6.00
8/17/2026, 11:37:42 PM
2027-01-15
$4.00
8/17/2026, 11:37:42 PM
2027-06-17
$4.00
8/17/2026, 11:37:42 PM
Selected expiration: 2026-08-21 at max pain $5.00.
TE pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
13000450
13000450
2
36600
9995250
10031850
2.5
55950
8502850
8558800
3
75900
7010500
7086400
3.5
125100
5537950
5663050
4
177050
4093550
4270600
4.5
258550
2791600
3050150
5
363250
1825900
2189150
5.5
1496400
1360500
2856900
6
3050250
974050
4024300
6.5
4900750
681000
5581750
7
6843800
394500
7238300
7.5
8948450
280550
9229000
8
11122950
169550
11292500
8.5
13551250
107900
13659150
9
16044050
54500
16098550
9.5
18787250
33400
18820650
10
21539950
12700
21552650
10.5
24632800
9250
24642050
11
27726500
5950
27732450
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.