This page reflects TPC 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 — TPC
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $85.00 (6.73 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$85.00
Nearest expiry
Expected Move
±$4.10
±4.5%
Days to Expiry
3
Calendar days
Total Call OI
346
Nearest expiry
Total Put OI
281
Nearest expiry
P/C OI Ratio
0.81
Put-heavy
Spot Price
$91.73
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
$75.00
6/18/2026, 11:33:36 PM
2026-07-17
$70.00
7/17/2026, 11:38:14 PM
2026-08-21NextUpdated
$85.00
8/18/2026, 11:42:17 PM
2026-09-18
$85.00
8/18/2026, 11:42:17 PM
2026-10-16
$85.00
8/18/2026, 11:42:17 PM
2026-12-18
$65.00
8/18/2026, 11:42:17 PM
2027-01-15
$75.00
8/18/2026, 11:42:17 PM
Selected expiration: 2026-08-21 at max pain $85.00.
TPC pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
734000
734000
55
0
601000
601000
60
0
469500
469500
65
0
339000
339000
70
0
255000
255000
75
1500
177000
178500
80
40000
113500
153500
85
82000
68500
150500
90
146000
40500
186500
95
238000
21500
259500
100
347000
8000
355000
105
498000
0
498000
110
656000
0
656000
115
817500
0
817500
120
989000
0
989000
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.