This page reflects ULS 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 — ULS
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $85.00 (9.04 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$85.00
Nearest expiry
Expected Move
±$2.17
±2.9%
Days to Expiry
3
Calendar days
Total Call OI
169
Nearest expiry
Total Put OI
2,103
Nearest expiry
P/C OI Ratio
12.44
Put-heavy
Spot Price
$75.96
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
$100.00
6/18/2026, 11:31:12 PM
2026-07-17
$95.00
7/17/2026, 11:39:25 PM
2026-08-21NextUpdated
$85.00
8/18/2026, 11:35:10 PM
2026-09-18
$70.00
8/18/2026, 11:35:10 PM
2026-10-16
$85.00
8/18/2026, 11:35:10 PM
2027-01-15
$75.00
8/18/2026, 11:35:10 PM
Selected expiration: 2026-08-21 at max pain $85.00.
ULS pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
5192000
5192000
65
0
4141000
4141000
70
0
3091000
3091000
75
8500
2044500
2053000
80
18000
1002000
1020000
85
49500
1000
50500
90
87500
0
87500
95
141000
0
141000
100
213500
0
213500
110
366500
0
366500
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.