This page reflects VALE 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 — VALE
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $15.00 (1.32 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$15.00
Nearest expiry
Expected Move
±$0.35
±2.6%
Days to Expiry
3
Calendar days
Total Call OI
58,134
Nearest expiry
Total Put OI
23,338
Nearest expiry
P/C OI Ratio
0.40
Put-heavy
Spot Price
$13.68
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
2026-08-07
$14.00
8/7/2026, 11:37:21 PM
2026-08-14
$14.00
8/14/2026, 11:34:23 PM
2026-08-21NextUpdated
$15.00
8/18/2026, 11:42:10 PM
2026-08-28
$12.50
8/18/2026, 11:42:10 PM
2026-09-04
$14.00
8/18/2026, 11:42:10 PM
2026-09-11
$14.00
8/18/2026, 11:42:10 PM
2026-09-18
$14.00
8/18/2026, 11:42:10 PM
2026-09-25
$13.50
8/18/2026, 11:42:10 PM
2026-10-02
$15.00
8/18/2026, 11:42:10 PM
2026-12-18
$14.00
8/18/2026, 11:42:10 PM
2027-01-15
$15.00
8/18/2026, 11:42:10 PM
2027-03-19
$17.00
8/18/2026, 11:42:10 PM
2027-06-17
$15.00
8/18/2026, 11:42:10 PM
Selected expiration: 2026-08-21 at max pain $15.00.
VALE pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
36972550
36972550
2
400
34638750
34639150
3
1200
32304950
32306150
4
2000
29972550
29974550
5
3000
27640750
27643750
6
4200
25310050
25314250
8
6600
20650450
20657050
9
7800
18320950
18328750
10
9100
15991450
16000550
11
10500
13662050
13672550
12
11900
11334250
11346150
12.5
12600
10203750
10216350
13
13300
9075850
9089150
13.5
74100
8185900
8260000
14
141900
7314800
7456700
14.5
250100
6656600
6906700
15
518650
6083100
6601750
15.5
1532600
5542400
7075000
16
2629250
5001800
7631050
16.5
3854850
4501550
8356400
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.