Western Alliance BancorporationClose $80.75EOD only
Max Pain
$85.00
Next expiry Aug 21, 2026
Expected Move
±$2.22
2.8% from close
Price Gap
+4.25
Distance to max pain
IV Rank
4
Low premium
P/C OI
0.62
Slightly call-heavy
Consensus
—
No reports available
Published snapshot: Aug 18, 2026 close
End-of-day snapshot
This page reflects WAL 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 — WAL
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $85.00 (4.25 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$85.00
Nearest expiry
Expected Move
±$2.22
±2.8%
Days to Expiry
3
Calendar days
Total Call OI
1,033
Nearest expiry
Total Put OI
1,092
Nearest expiry
P/C OI Ratio
1.06
Put-heavy
Spot Price
$80.75
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
$75.00
6/18/2026, 11:33:38 PM
2026-07-17
$80.00
7/17/2026, 11:40:44 PM
2026-08-21NextUpdated
$85.00
8/18/2026, 11:44:27 PM
2026-09-18
$85.00
8/18/2026, 11:44:27 PM
2026-11-20
$80.00
8/18/2026, 11:44:27 PM
2026-12-18
$85.00
8/18/2026, 11:44:27 PM
2027-01-15
$75.00
8/18/2026, 11:44:27 PM
Selected expiration: 2026-08-21 at max pain $85.00.
WAL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
55
0
1977500
1977500
60
0
1471500
1471500
65
0
1023000
1023000
70
0
594000
594000
72.5
0
397500
397500
75
0
287250
287250
77.5
0
188500
188500
80
3750
103500
107250
82.5
16500
49250
65750
85
49500
13000
62500
87.5
134500
0
134500
90
240500
0
240500
92.5
409250
0
409250
95
662750
0
662750
100
1178750
0
1178750
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.