This page reflects TX 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 — TX
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $40.00 (13.69 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$40.00
Nearest expiry
Expected Move
±$2.38
±4.4%
Days to Expiry
3
Calendar days
Total Call OI
808
Nearest expiry
Total Put OI
936
Nearest expiry
P/C OI Ratio
1.16
Put-heavy
Spot Price
$53.69
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
$45.00
6/18/2026, 11:35:27 PM
2026-07-17
$45.00
7/17/2026, 11:33:24 PM
2026-08-21NextUpdated
$40.00
8/18/2026, 11:36:36 PM
2026-09-18
$55.00
8/18/2026, 11:36:36 PM
2026-11-20
$40.00
8/18/2026, 11:36:36 PM
2026-12-18
$40.00
8/18/2026, 11:36:36 PM
2027-02-19
$35.00
8/18/2026, 11:36:36 PM
Selected expiration: 2026-08-21 at max pain $40.00.
TX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
20
0
1479250
1479250
22.5
0
1245500
1245500
25
0
1012000
1012000
30
0
595500
595500
35
0
179500
179500
40
0
52000
52000
45
22000
31000
53000
50
75000
12500
87500
55
334500
2000
336500
60
735000
1000
736000
65
1138500
500
1139000
70
1542500
0
1542500
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.