This page reflects TEL 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 — TEL
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $200.00 (4.97 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$200.00
Nearest expiry
Expected Move
±$7.67
±3.7%
Days to Expiry
3
Calendar days
Total Call OI
17,718
Nearest expiry
Total Put OI
4,519
Nearest expiry
P/C OI Ratio
0.26
Put-heavy
Spot Price
$204.97
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
$210.00
6/18/2026, 11:34:49 PM
2026-07-17
$200.00
7/17/2026, 11:32:44 PM
2026-08-21NextUpdated
$200.00
8/18/2026, 11:26:40 PM
2026-09-18
$200.00
8/18/2026, 11:26:40 PM
2026-10-16
$210.00
8/18/2026, 11:26:40 PM
2026-11-20
$210.00
8/18/2026, 11:26:40 PM
2026-12-18
$210.00
8/18/2026, 11:26:40 PM
2027-01-15
$210.00
8/18/2026, 11:26:40 PM
2027-02-19
$190.00
8/18/2026, 11:26:40 PM
2027-05-21
$190.00
8/18/2026, 11:26:40 PM
Selected expiration: 2026-08-21 at max pain $200.00.
TEL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
110
0
35626000
35626000
115
0
33368000
33368000
120
0
31110500
31110500
125
0
28853000
28853000
130
0
26595500
26595500
135
0
24344500
24344500
140
0
22095000
22095000
145
0
19872000
19872000
150
500
17655500
17656000
155
1000
15454500
15455500
160
1500
13257000
13258500
165
2000
11065500
11067500
170
7000
8968500
8975500
175
15000
7166500
7181500
180
23000
5422000
5445000
185
74000
3801000
3875000
190
144000
2239500
2383500
195
275000
1447000
1722000
200
443500
803000
1246500
210
1495500
370000
1865500
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.