This page reflects TEX options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 19, 2026 close
Max Pain — TEX
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $60.00 (4.60 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$60.00
Nearest expiry
Expected Move
±$2.05
±3.2%
Days to Expiry
2
Calendar days
Total Call OI
18,969
Nearest expiry
Total Put OI
1,384
Nearest expiry
P/C OI Ratio
0.07
Put-heavy
Spot Price
$64.60
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
$60.00
6/18/2026, 11:39:13 PM
2026-07-17
$65.00
7/17/2026, 11:39:15 PM
2026-08-21NextUpdated
$60.00
8/19/2026, 11:34:27 PM
2026-09-18
$65.00
8/19/2026, 11:34:27 PM
2026-10-16
$65.00
8/19/2026, 11:34:27 PM
2027-01-15
$45.00
8/19/2026, 11:34:27 PM
Selected expiration: 2026-08-21 at max pain $60.00.
TEX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
3242000
3242000
45
0
2552000
2552000
50
0
1869500
1869500
55
0
1213000
1213000
60
0
603500
603500
65
4029000
5000
4034000
70
8100000
0
8100000
75
17052500
0
17052500
80
26391000
0
26391000
85
35779000
0
35779000
90
45170500
0
45170500
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.