This page reflects VERX 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 — VERX
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $13.00 (0.17 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$13.00
Nearest expiry
Expected Move
±$0.93
±7.2%
Days to Expiry
3
Calendar days
Total Call OI
207
Nearest expiry
Total Put OI
807
Nearest expiry
P/C OI Ratio
3.90
Put-heavy
Spot Price
$12.83
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
$14.00
6/18/2026, 11:37:37 PM
2026-07-17
$12.00
7/17/2026, 11:34:01 PM
2026-08-21NextUpdated
$13.00
8/18/2026, 11:43:07 PM
2026-09-18
$13.00
8/18/2026, 11:43:07 PM
2026-12-18
$10.00
8/18/2026, 11:43:07 PM
2027-03-19
$13.00
8/18/2026, 11:43:07 PM
Selected expiration: 2026-08-21 at max pain $13.00.
VERX pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
4
0
553100
553100
5
0
473000
473000
6
0
393600
393600
9
4500
158100
162600
10
6000
80600
86600
11
7500
16300
23800
12
9100
10500
19600
13
12000
7000
19000
14
22600
3500
26100
15
34400
0
34400
16
50300
0
50300
17
68200
0
68200
20
130300
0
130300
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.