This page reflects THC 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 — THC
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $200.00 (70.21 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$200.00
Nearest expiry
Expected Move
±$8.75
±3.2%
Days to Expiry
3
Calendar days
Total Call OI
11,722
Nearest expiry
Total Put OI
18,845
Nearest expiry
P/C OI Ratio
1.61
Put-heavy
Spot Price
$270.21
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
$170.00
6/18/2026, 11:33:03 PM
2026-07-17
$195.00
7/17/2026, 11:37:19 PM
2026-08-21NextUpdated
$200.00
8/18/2026, 11:32:58 PM
2026-09-18
$260.00
8/18/2026, 11:32:58 PM
2026-11-20
$240.00
8/18/2026, 11:32:58 PM
2026-12-18
$150.00
8/18/2026, 11:32:58 PM
2027-01-15
$200.00
8/18/2026, 11:32:58 PM
2027-02-19
$230.00
8/18/2026, 11:32:58 PM
Selected expiration: 2026-08-21 at max pain $200.00.
THC pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
105
0
157173500
157173500
110
500
147761000
147761500
115
1500
138368500
138370000
120
2500
129082000
129084500
125
7500
119796500
119804000
130
25500
110661500
110687000
135
56500
101535500
101592000
140
91000
92415500
92506500
145
125500
83366500
83492000
150
160000
74379500
74539500
155
207500
65407500
65615000
160
268000
56567000
56835000
165
333000
48105000
48438000
170
398500
39686000
40084500
175
470500
33209000
33679500
180
565500
26823500
27389000
185
673000
20594000
21267000
190
1791500
16610000
18401500
195
2952000
13030000
15982000
200
4195000
10322000
14517000
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.