This page reflects TER 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 — TER
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $372.50 (31.79 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$372.50
Nearest expiry
Expected Move
±$23.00
±5.7%
Days to Expiry
3
Calendar days
Total Call OI
19,499
Nearest expiry
Total Put OI
14,713
Nearest expiry
P/C OI Ratio
0.75
Put-heavy
Spot Price
$404.29
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
$360.00
8/7/2026, 11:40:03 PM
2026-08-14
$385.00
8/14/2026, 11:39:40 PM
2026-08-21NextUpdated
$372.50
8/18/2026, 11:40:23 PM
2026-08-28
$380.00
8/18/2026, 11:40:23 PM
2026-09-04
$405.00
8/18/2026, 11:40:23 PM
2026-09-11
$400.00
8/18/2026, 11:40:23 PM
2026-09-18
$370.00
8/18/2026, 11:40:23 PM
2026-09-25
$390.00
8/18/2026, 11:40:23 PM
2026-10-02
$380.00
8/18/2026, 11:40:23 PM
2026-10-16
$390.00
8/18/2026, 11:40:23 PM
2026-11-20
$340.00
8/18/2026, 11:40:23 PM
2027-01-15
$300.00
8/18/2026, 11:40:23 PM
Selected expiration: 2026-08-21 at max pain $372.50.
TER pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
376772750
376772750
55
500
369419250
369419750
60
1500
362067250
362068750
65
3500
354716250
354719750
70
6000
347371750
347377750
75
9500
340028750
340038250
80
13000
332686250
332699250
85
18000
325351750
325369750
90
26000
318020250
318046250
95
34000
310693750
310727750
100
48500
303371750
303420250
105
66000
296071250
296137250
110
83500
288796250
288879750
115
102500
281526750
281629250
120
127500
274314750
274442250
125
158000
267177250
267335250
130
218500
260144750
260363250
135
314500
253139250
253453750
140
467000
246138250
246605250
145
651000
239137750
239788750
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.