This page reflects VRSK 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 — VRSK
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $185.00 (6.14 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$185.00
Nearest expiry
Expected Move
±$3.88
±2.2%
Days to Expiry
3
Calendar days
Total Call OI
862
Nearest expiry
Total Put OI
633
Nearest expiry
P/C OI Ratio
0.73
Put-heavy
Spot Price
$178.86
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
$175.00
6/18/2026, 11:36:37 PM
2026-07-17
$180.00
7/17/2026, 11:38:39 PM
2026-08-21NextUpdated
$185.00
8/18/2026, 11:43:34 PM
2026-09-18
$185.00
8/18/2026, 11:43:34 PM
2026-12-18
$180.00
8/18/2026, 11:43:34 PM
2027-03-19
$150.00
8/18/2026, 11:43:34 PM
Selected expiration: 2026-08-21 at max pain $185.00.
VRSK pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
125
0
3616500
3616500
135
0
2986500
2986500
140
0
2671500
2671500
150
0
2051500
2051500
155
0
1742500
1742500
160
0
1434000
1434000
165
0
1130500
1130500
170
0
841500
841500
175
0
585000
585000
180
3500
342000
345500
185
13500
201500
215000
190
243500
87000
330500
195
510500
63000
573500
200
791500
50000
841500
210
1398500
25000
1423500
220
2029500
0
2029500
230
2701500
0
2701500
240
3534500
0
3534500
250
4394500
0
4394500
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.