This page reflects TM 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 — TM
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $190.00 (1.22 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$190.00
Nearest expiry
Expected Move
±$2.30
±1.2%
Days to Expiry
2
Calendar days
Total Call OI
1,143
Nearest expiry
Total Put OI
1,940
Nearest expiry
P/C OI Ratio
1.70
Put-heavy
Spot Price
$188.78
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
$195.00
6/18/2026, 11:33:25 PM
2026-07-17
$185.00
7/17/2026, 11:32:15 PM
2026-08-21NextUpdated
$190.00
8/19/2026, 11:34:40 PM
2026-09-18
$190.00
8/19/2026, 11:34:40 PM
2026-10-16
$185.00
8/19/2026, 11:34:40 PM
2026-12-18
$185.00
8/19/2026, 11:34:40 PM
2027-01-15
$180.00
8/19/2026, 11:34:40 PM
2027-03-19
$200.00
8/19/2026, 11:34:40 PM
2027-06-17
$165.00
8/19/2026, 11:34:40 PM
Selected expiration: 2026-08-21 at max pain $190.00.
TM pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
125
0
10211500
10211500
130
0
9244500
9244500
135
0
8280500
8280500
140
0
7317500
7317500
145
0
6359500
6359500
150
0
5420000
5420000
155
0
4496500
4496500
160
0
3598500
3598500
165
1500
2753500
2755000
170
3500
1996500
2000000
175
14000
1371000
1385000
180
66500
880500
947000
185
243500
545000
788500
190
469500
262500
732000
195
778500
3000
781500
200
1150500
0
1150500
210
2048500
0
2048500
220
3116500
0
3116500
230
4202500
0
4202500
240
5333500
0
5333500
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.