This page reflects TLRY 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 — TLRY
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $4.50 (0.03 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$4.50
Nearest expiry
Expected Move
±$0.22
±4.9%
Days to Expiry
3
Calendar days
Total Call OI
10,127
Nearest expiry
Total Put OI
2,944
Nearest expiry
P/C OI Ratio
0.29
Put-heavy
Spot Price
$4.47
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
$4.00
8/7/2026, 11:31:39 PM
2026-08-14
$4.50
8/14/2026, 11:40:19 PM
2026-08-21NextUpdated
$4.50
8/18/2026, 11:33:46 PM
2026-08-28
$4.00
8/18/2026, 11:33:46 PM
2026-09-04
$5.00
8/18/2026, 11:33:46 PM
2026-09-11
$4.00
8/18/2026, 11:33:46 PM
2026-09-18
$5.00
8/18/2026, 11:33:46 PM
2026-09-25
$4.00
8/18/2026, 11:33:46 PM
2026-10-02
$4.50
8/18/2026, 11:33:46 PM
2026-12-18
$5.00
8/18/2026, 11:33:46 PM
2027-01-15
$0.50
8/18/2026, 11:33:46 PM
2027-03-19
$3.00
8/18/2026, 11:33:46 PM
Selected expiration: 2026-08-21 at max pain $4.50.
TLRY pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
0.5
0
1071900
1071900
1
300
924700
925000
1.5
800
777500
778300
2
1600
630300
631900
2.5
2600
483100
485700
3
3600
337600
341200
3.5
5000
210450
215450
4
14150
96750
110900
4.5
47450
29200
76650
5
147650
7150
154800
5.5
476800
2950
479750
6
854300
1650
855950
6.5
1313800
950
1314750
7
1780650
450
1781100
7.5
2275650
200
2275850
8
2772800
0
2772800
8.5
3273500
0
3273500
9
3774200
0
3774200
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.