This page reflects VELO options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 20, 2026 close
Max Pain — VELO
Data as of market close Aug 20, 2026
Nearest listed expiration 2026-08-21 shows max pain at $15.00 (1.83 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
±$1.17
±8.9%
Days to Expiry
1
Calendar days
Total Call OI
10,679
Nearest expiry
Total Put OI
3,197
Nearest expiry
P/C OI Ratio
0.30
Put-heavy
Spot Price
$13.17
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
$20.00
6/18/2026, 11:37:31 PM
2026-07-17
$17.50
7/17/2026, 11:40:09 PM
2026-08-21NextUpdated
$15.00
8/20/2026, 11:37:50 PM
2026-09-18
$15.00
8/20/2026, 11:37:50 PM
2026-12-18
$15.00
8/20/2026, 11:37:50 PM
2027-03-19
$15.00
8/20/2026, 11:37:50 PM
Selected expiration: 2026-08-21 at max pain $15.00.
VELO pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
2.5
0
3119000
3119000
5
250
2320000
2320250
7.5
750
1525750
1526500
10
17500
825750
843250
12.5
67750
237500
305250
15
234250
66250
300500
17.5
906500
17500
924000
20
2159500
12750
2172250
22.5
4126000
9750
4135750
25
6143750
7000
6150750
30
10902250
3500
10905750
35
16129750
0
16129750
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.