This page reflects TEM 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 — TEM
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $50.00 (0.64 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$50.00
Nearest expiry
Expected Move
±$2.24
±4.5%
Days to Expiry
3
Calendar days
Total Call OI
41,887
Nearest expiry
Total Put OI
16,563
Nearest expiry
P/C OI Ratio
0.40
Put-heavy
Spot Price
$49.36
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
$45.50
8/7/2026, 11:34:26 PM
2026-08-14
$49.50
8/14/2026, 11:39:52 PM
2026-08-21NextUpdated
$50.00
8/18/2026, 11:39:24 PM
2026-08-28
$50.00
8/18/2026, 11:39:24 PM
2026-09-04
$50.00
8/18/2026, 11:39:24 PM
2026-09-11
$48.00
8/18/2026, 11:39:24 PM
2026-09-18
$50.00
8/18/2026, 11:39:24 PM
2026-09-25
$49.00
8/18/2026, 11:39:24 PM
2026-10-02
$51.00
8/18/2026, 11:39:24 PM
2026-10-16
$50.00
8/18/2026, 11:39:24 PM
2026-11-20
$50.00
8/18/2026, 11:39:24 PM
2026-12-18
$50.00
8/18/2026, 11:39:24 PM
2027-01-15
$50.00
8/18/2026, 11:39:24 PM
2027-02-19
$40.00
8/18/2026, 11:39:24 PM
2027-03-19
$30.00
8/18/2026, 11:39:24 PM
Selected expiration: 2026-08-21 at max pain $50.00.
TEM pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
22.5
0
34123500
34123500
25
2000
30016000
30018000
30
6000
21861500
21867500
35
48000
14158000
14206000
37
67000
11575000
11642000
38
76500
10290000
10366500
39
86000
9008200
9094200
40
95600
7780100
7875700
41
116800
6893000
7009800
42
138300
6021600
6159900
43
166200
5175000
5341200
44
199200
4357100
4556300
45
243700
3543200
3786900
46
417500
3053600
3471100
46.5
510250
2813750
3324000
47
603450
2573900
3177350
47.5
726950
2340950
3067900
48
852650
2110650
2963300
48.5
988350
1892350
2880700
49
1129250
1681600
2810850
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.