This page reflects TPB 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 — TPB
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $75.00 (11.50 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$75.00
Nearest expiry
Expected Move
±$3.73
±4.3%
Days to Expiry
3
Calendar days
Total Call OI
374
Nearest expiry
Total Put OI
386
Nearest expiry
P/C OI Ratio
1.03
Put-heavy
Spot Price
$86.50
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
$80.00
6/18/2026, 11:31:24 PM
2026-07-17
$80.00
7/17/2026, 11:39:32 PM
2026-08-21NextUpdated
$75.00
8/18/2026, 11:32:42 PM
2026-09-18
$85.00
8/18/2026, 11:32:42 PM
2026-10-16
$75.00
8/18/2026, 11:32:42 PM
2026-12-18
$70.00
8/18/2026, 11:32:42 PM
2027-01-15
$80.00
8/18/2026, 11:32:42 PM
Selected expiration: 2026-08-21 at max pain $75.00.
TPB pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
45
0
1066000
1066000
55
0
681000
681000
60
0
489000
489000
65
500
299500
300000
70
1000
153000
154000
75
1500
47000
48500
80
101000
6500
107500
85
217500
2500
220000
90
345500
0
345500
95
482500
0
482500
100
634500
0
634500
105
810500
0
810500
110
989500
0
989500
125
1529500
0
1529500
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.