This page reflects TLN 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 — TLN
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $350.00 (27.65 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$350.00
Nearest expiry
Expected Move
±$5.15
±1.6%
Days to Expiry
2
Calendar days
Total Call OI
9,621
Nearest expiry
Total Put OI
6,271
Nearest expiry
P/C OI Ratio
0.65
Put-heavy
Spot Price
$322.35
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
$350.00
8/7/2026, 11:33:48 PM
2026-08-14
$347.50
8/14/2026, 11:37:01 PM
2026-08-21NextUpdated
$350.00
8/19/2026, 11:42:50 PM
2026-08-28
$325.00
8/19/2026, 11:42:50 PM
2026-09-04
$365.00
8/19/2026, 11:42:50 PM
2026-09-11
$355.00
8/19/2026, 11:42:50 PM
2026-09-18
$380.00
8/19/2026, 11:42:50 PM
2026-09-25
$355.00
8/19/2026, 11:42:50 PM
2026-10-02
$275.00
8/19/2026, 11:42:50 PM
2026-10-16
$360.00
8/19/2026, 11:42:50 PM
2026-11-20
$300.00
8/19/2026, 11:42:50 PM
2026-12-18
$370.00
8/19/2026, 11:42:50 PM
2027-01-15
$320.00
8/19/2026, 11:42:50 PM
2027-02-19
$300.00
8/19/2026, 11:42:50 PM
2027-03-19
$350.00
8/19/2026, 11:42:50 PM
2027-06-17
$350.00
8/19/2026, 11:42:50 PM
Selected expiration: 2026-08-21 at max pain $350.00.
TLN pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
160
0
94433750
94433750
165
0
91298250
91298250
170
0
88162750
88162750
175
500
85027750
85028250
180
1500
81893250
81894750
185
2500
78759750
78762250
195
6500
72493750
72500250
200
9000
69363250
69372250
210
14000
63108250
63122250
220
21000
56857250
56878250
230
28000
51615250
51643250
240
436000
46516250
46952250
250
848000
41423250
42271250
260
1264000
36507250
37771250
270
1688000
31640250
33328250
280
2119000
26804250
28923250
290
2551000
22017250
24568250
300
2984000
17272250
20256250
302.5
3168250
16179750
19348000
305
3352500
15088500
18441000
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.