This page reflects VNO 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 — VNO
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $38.00 (0.25 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$38.00
Nearest expiry
Expected Move
±$1.23
±3.3%
Days to Expiry
3
Calendar days
Total Call OI
455
Nearest expiry
Total Put OI
191
Nearest expiry
P/C OI Ratio
0.42
Put-heavy
Spot Price
$37.75
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
$33.00
6/18/2026, 11:39:39 PM
2026-07-17
$35.00
7/17/2026, 11:34:58 PM
2026-08-21NextUpdated
$38.00
8/18/2026, 11:39:38 PM
2026-09-18
$32.00
8/18/2026, 11:39:38 PM
2026-12-18
$33.00
8/18/2026, 11:39:38 PM
2027-01-15
$35.00
8/18/2026, 11:39:38 PM
Selected expiration: 2026-08-21 at max pain $38.00.
VNO pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
131200
131200
31
800
112400
113200
32
2100
93900
96000
33
3900
76200
80100
34
6200
58500
64700
35
9500
40900
50400
36
13800
24800
38600
37
18700
15400
34100
38
24600
7500
32100
39
32400
3700
36100
40
42900
1200
44100
41
67800
700
68500
42
97400
200
97600
43
128000
0
128000
44
168800
0
168800
45
211300
0
211300
46
255700
0
255700
47
300700
0
300700
48
345800
0
345800
50
436200
0
436200
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.