Nearest listed expiration 2026-08-21 shows max pain at $405.00 (25.97 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$405.00
Nearest expiry
Expected Move
±$13.47
±3.1%
Days to Expiry
4
Calendar days
Total Call OI
195,258
Nearest expiry
Total Put OI
210,304
Nearest expiry
P/C OI Ratio
1.08
Put-heavy
Spot Price
$430.97
Published close
Consensus
5.0/10
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
2026-08-07
$400.00
8/7/2026, 11:39:13 PM
2026-08-14
$422.50
8/14/2026, 11:32:28 PM
2026-08-21NextUpdated
$405.00
8/17/2026, 11:41:40 PM
2026-08-28
$415.00
8/17/2026, 11:41:40 PM
2026-09-04
$395.00
8/17/2026, 11:41:40 PM
2026-09-11
$420.00
8/17/2026, 11:41:40 PM
2026-09-18
$400.00
8/17/2026, 11:41:40 PM
2026-09-25
$430.00
8/17/2026, 11:41:40 PM
2026-10-02
$435.00
8/17/2026, 11:41:40 PM
2026-10-16
$400.00
8/17/2026, 11:41:40 PM
2026-11-20
$400.00
8/17/2026, 11:41:40 PM
2026-12-18
$400.00
8/17/2026, 11:41:40 PM
2027-01-15
$340.00
8/17/2026, 11:41:40 PM
2027-02-19
$400.00
8/17/2026, 11:41:40 PM
2027-03-19
$410.00
8/17/2026, 11:41:40 PM
2027-06-17
$400.00
8/17/2026, 11:41:40 PM
Selected expiration: 2026-08-21 at max pain $405.00.
TSM pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
150
0
4147007000
4147007000
155
2500
4042414000
4042416500
160
10500
3937948500
3937959000
165
20000
3833864500
3833884500
170
32000
3729920000
3729952000
175
47000
3626079500
3626126500
180
70000
3522430000
3522500000
185
100000
3418864500
3418964500
190
141000
3316832500
3316973500
195
194500
3214947000
3215141500
200
308000
3113146500
3113454500
210
603000
2915398500
2916001500
220
1004000
2717930500
2718934500
230
1474000
2522422500
2523896500
240
2045000
2327751500
2329796500
250
2750000
2135689500
2138439500
260
3603000
1948126500
1951729500
270
4586000
1763602500
1768188500
280
5766000
1582872500
1588638500
290
7090000
1405872500
1412962500
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.