This page reflects TRN 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 — TRN
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $36.00 (6.33 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$36.00
Nearest expiry
Expected Move
±$1.10
±3.7%
Days to Expiry
3
Calendar days
Total Call OI
154
Nearest expiry
Total Put OI
4,227
Nearest expiry
P/C OI Ratio
27.45
Put-heavy
Spot Price
$29.67
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
$35.00
6/18/2026, 11:35:04 PM
2026-07-17
$36.00
7/17/2026, 11:36:10 PM
2026-08-21NextUpdated
$36.00
8/18/2026, 11:33:07 PM
2026-09-18
$30.00
8/18/2026, 11:33:07 PM
2026-10-16
$34.00
8/18/2026, 11:33:07 PM
2027-01-15
$30.00
8/18/2026, 11:33:07 PM
Selected expiration: 2026-08-21 at max pain $36.00.
TRN pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
25
0
2617700
2617700
26
0
2195500
2195500
27
0
1774300
1774300
28
900
1528200
1529100
29
1800
1283100
1284900
30
2700
1038700
1041400
31
4300
829500
833800
32
6200
620400
626600
33
8600
415300
423900
34
11200
210200
221400
35
13900
105100
119000
36
17200
0
17200
37
21700
0
21700
38
29600
0
29600
39
38800
0
38800
40
49700
0
49700
41
64000
0
64000
43
92800
0
92800
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.