This page reflects TRGP 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 — TRGP
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $270.00 (27.77 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$270.00
Nearest expiry
Expected Move
±$2.62
±0.9%
Days to Expiry
3
Calendar days
Total Call OI
4,190
Nearest expiry
Total Put OI
890
Nearest expiry
P/C OI Ratio
0.21
Put-heavy
Spot Price
$297.77
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
$240.00
6/18/2026, 11:30:15 PM
2026-07-17
$250.00
7/17/2026, 11:39:17 PM
2026-08-21NextUpdated
$270.00
8/18/2026, 11:40:35 PM
2026-09-18
$250.00
8/18/2026, 11:40:35 PM
2026-10-16
$240.00
8/18/2026, 11:40:35 PM
2026-11-20
$240.00
8/18/2026, 11:40:35 PM
2026-12-18
$200.00
8/18/2026, 11:40:35 PM
2027-01-15
$240.00
8/18/2026, 11:40:35 PM
2027-03-19
$230.00
8/18/2026, 11:40:35 PM
2027-06-17
$240.00
8/18/2026, 11:40:35 PM
Selected expiration: 2026-08-21 at max pain $270.00.
TRGP pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
170
0
7449000
7449000
180
0
6561000
6561000
195
0
5230500
5230500
200
1000
4787000
4788000
210
3000
3902000
3905000
220
5000
3017000
3022000
230
7000
2140000
2147000
240
11000
1276000
1287000
250
22000
669000
691000
260
42000
343000
385000
270
229000
122000
351000
280
521000
0
521000
290
1624000
0
1624000
300
4149000
0
4149000
310
8072000
0
8072000
320
12126000
0
12126000
330
16190000
0
16190000
340
20375000
0
20375000
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.