This page reflects TXT 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 — TXT
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $87.50 (0.37 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$87.50
Nearest expiry
Expected Move
±$1.70
±1.9%
Days to Expiry
3
Calendar days
Total Call OI
3,175
Nearest expiry
Total Put OI
3,065
Nearest expiry
P/C OI Ratio
0.97
Put-heavy
Spot Price
$87.13
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
$87.50
6/18/2026, 11:34:37 PM
2026-07-17
$87.50
7/17/2026, 11:39:47 PM
2026-08-21NextUpdated
$87.50
8/18/2026, 11:36:08 PM
2026-09-18
$87.50
8/18/2026, 11:36:08 PM
2026-11-20
$87.50
8/18/2026, 11:36:08 PM
2026-12-18
$85.00
8/18/2026, 11:36:08 PM
2027-03-19
$70.00
8/18/2026, 11:36:08 PM
Selected expiration: 2026-08-21 at max pain $87.50.
TXT pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
55
0
8806250
8806250
60
0
7285750
7285750
65
0
5766250
5766250
70
0
4303750
4303750
75
0
2878250
2878250
77.5
6750
2168500
2175250
80
13500
1468250
1481750
82.5
33750
786500
820250
85
54750
136250
191000
87.5
83000
84750
167750
90
128250
44250
172500
92.5
199500
21500
221000
95
295000
1250
296250
97.5
537000
0
537000
100
904250
0
904250
105
1923250
0
1923250
110
3472750
0
3472750
115
5038750
0
5038750
120
6607250
0
6607250
125
8180750
0
8180750
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.