This page reflects VMI 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 — VMI
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $510.00 (22.64 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$510.00
Nearest expiry
Expected Move
±$11.73
±2.4%
Days to Expiry
3
Calendar days
Total Call OI
174
Nearest expiry
Total Put OI
113
Nearest expiry
P/C OI Ratio
0.65
Put-heavy
Spot Price
$487.36
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
$500.00
6/18/2026, 11:37:41 PM
2026-07-17
$550.00
7/17/2026, 11:41:32 PM
2026-08-21NextUpdated
$510.00
8/18/2026, 11:36:16 PM
2026-09-18
$470.00
8/18/2026, 11:36:16 PM
2026-12-18
$500.00
8/18/2026, 11:36:16 PM
2027-03-19
$340.00
8/18/2026, 11:36:16 PM
Selected expiration: 2026-08-21 at max pain $510.00.
VMI pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
400
0
741000
741000
410
0
634000
634000
420
0
537000
537000
430
0
457000
457000
440
0
379000
379000
450
0
302000
302000
460
0
242000
242000
470
1000
184000
185000
480
4000
129000
133000
490
9000
80000
89000
500
15000
56000
71000
510
26000
36000
62000
520
69000
17000
86000
530
112000
3000
115000
540
168000
1000
169000
550
225000
0
225000
560
297000
0
297000
570
371000
0
371000
580
458000
0
458000
590
548000
0
548000
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.