This page reflects TVTX 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 — TVTX
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $57.50 (6.40 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$57.50
Nearest expiry
Expected Move
±$0.95
±1.5%
Days to Expiry
3
Calendar days
Total Call OI
3,150
Nearest expiry
Total Put OI
2,772
Nearest expiry
P/C OI Ratio
0.88
Put-heavy
Spot Price
$63.90
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
$42.50
6/18/2026, 11:31:50 PM
2026-07-17
$50.00
7/17/2026, 11:39:28 PM
2026-08-21NextUpdated
$57.50
8/18/2026, 11:35:10 PM
2026-09-18
$35.00
8/18/2026, 11:35:10 PM
2026-12-18
$22.50
8/18/2026, 11:35:10 PM
2027-01-15
$30.00
8/18/2026, 11:35:10 PM
2027-03-19
$35.00
8/18/2026, 11:35:10 PM
Selected expiration: 2026-08-21 at max pain $57.50.
TVTX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
8798500
8798500
30
0
6026500
6026500
32.5
1000
5333500
5334500
35
2000
4640750
4642750
37.5
15750
3948000
3963750
40
29500
3255250
3284750
42.5
43250
2565500
2608750
45
59250
1875750
1935000
47.5
133750
1212000
1345750
50
212750
923750
1136500
52.5
308250
658750
967000
55
419750
403250
823000
57.5
603250
167500
770750
60
1165000
7750
1172750
62.5
1818250
0
1818250
65
2496000
0
2496000
67.5
3215750
0
3215750
70
3943250
0
3943250
75
5451750
0
5451750
80
7014750
0
7014750
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.