Texas Pacific Land CorporationClose $373.18EOD only
Max Pain
$380.00
Next expiry Aug 21, 2026
Expected Move
±$10.90
2.9% from close
Price Gap
+6.82
Distance to max pain
IV Rank
23
Low premium
P/C OI
0.69
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Aug 19, 2026 close
End-of-day snapshot
This page reflects TPL 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 — TPL
Data as of market close Aug 19, 2026
Nearest listed expiration 2026-08-21 shows max pain at $380.00 (6.82 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$380.00
Nearest expiry
Expected Move
±$10.90
±2.9%
Days to Expiry
2
Calendar days
Total Call OI
3,096
Nearest expiry
Total Put OI
877
Nearest expiry
P/C OI Ratio
0.28
Put-heavy
Spot Price
$373.18
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
$380.00
6/18/2026, 11:35:31 PM
2026-07-17
$400.00
7/17/2026, 11:34:24 PM
2026-08-21NextUpdated
$380.00
8/19/2026, 11:41:51 PM
2026-09-18
$370.00
8/19/2026, 11:41:51 PM
2026-10-16
$400.00
8/19/2026, 11:41:51 PM
2027-01-15
$350.00
8/19/2026, 11:41:51 PM
Selected expiration: 2026-08-21 at max pain $380.00.
TPL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
270
0
8181000
8181000
280
0
7309000
7309000
290
0
6454000
6454000
300
2000
5603000
5605000
310
4000
4771000
4775000
320
6000
3966000
3972000
330
10000
3192000
3202000
340
20000
2455000
2475000
350
75000
1908000
1983000
360
255000
1437000
1692000
370
504000
997000
1501000
380
805000
605000
1410000
390
1247000
346000
1593000
400
1772000
239000
2011000
410
2475000
173000
2648000
420
3238000
136000
3374000
430
4251000
102000
4353000
440
5390000
68000
5458000
450
6705000
34000
6739000
460
8249000
0
8249000
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.