This page reflects TFX 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 — TFX
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $135.00 (3.08 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$135.00
Nearest expiry
Expected Move
±$5.85
±4.4%
Days to Expiry
3
Calendar days
Total Call OI
671
Nearest expiry
Total Put OI
20
Nearest expiry
P/C OI Ratio
0.03
Put-heavy
Spot Price
$131.92
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
$130.00
6/18/2026, 11:32:16 PM
2026-07-17
$105.00
7/17/2026, 11:34:30 PM
2026-08-21NextUpdated
$135.00
8/18/2026, 11:33:19 PM
2026-09-18
$130.00
8/18/2026, 11:33:19 PM
2026-10-16
$135.00
8/18/2026, 11:33:19 PM
2027-01-15
$135.00
8/18/2026, 11:33:19 PM
Selected expiration: 2026-08-21 at max pain $135.00.
TFX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
115
0
36000
36000
120
0
26500
26500
125
0
18000
18000
130
500
10000
10500
135
4000
3000
7000
140
17000
2500
19500
145
37000
2000
39000
150
199000
1500
200500
155
532000
1000
533000
165
1198000
0
1198000
170
1531000
0
1531000
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.