This page reflects TH 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 — TH
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $17.00 (0.04 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$17.00
Nearest expiry
Expected Move
±$0.47
±2.8%
Days to Expiry
2
Calendar days
Total Call OI
694
Nearest expiry
Total Put OI
4,747
Nearest expiry
P/C OI Ratio
6.84
Put-heavy
Spot Price
$17.04
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
$18.00
6/18/2026, 11:39:12 PM
2026-07-17
$11.00
7/17/2026, 11:38:21 PM
2026-08-21NextUpdated
$17.00
8/19/2026, 11:34:15 PM
2026-09-18
$15.00
8/19/2026, 11:34:15 PM
2026-10-16
$14.00
8/19/2026, 11:34:15 PM
2027-01-15
$7.00
8/19/2026, 11:34:15 PM
Selected expiration: 2026-08-21 at max pain $17.00.
TH pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
11
0
2403100
2403100
12
0
1928400
1928400
13
0
1453800
1453800
14
0
979500
979500
15
0
515200
515200
16
6800
63600
70400
17
14400
22800
37200
18
53100
2200
55300
19
114900
1700
116600
20
176900
1300
178200
21
243900
1000
244900
22
310900
700
311600
23
378700
400
379100
24
447000
200
447200
25
515300
0
515300
26
583800
0
583800
27
653200
0
653200
28
722600
0
722600
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.