This page reflects WD 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 — WD
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $45.00 (5.29 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$45.00
Nearest expiry
Expected Move
±$2.30
±5.8%
Days to Expiry
3
Calendar days
Total Call OI
210
Nearest expiry
Total Put OI
75
Nearest expiry
P/C OI Ratio
0.36
Put-heavy
Spot Price
$39.71
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
$50.00
6/18/2026, 11:33:03 PM
2026-07-17
$50.00
7/17/2026, 11:35:37 PM
2026-08-21NextUpdated
$45.00
8/18/2026, 11:43:05 PM
2026-09-18
$45.00
8/18/2026, 11:43:05 PM
2026-11-20
$40.00
8/18/2026, 11:43:05 PM
2026-12-18
$45.00
8/18/2026, 11:43:05 PM
2027-02-19
$40.00
8/18/2026, 11:43:05 PM
Selected expiration: 2026-08-21 at max pain $45.00.
WD pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
22.5
0
177500
177500
25
0
159000
159000
30
0
122500
122500
35
0
86500
86500
40
2500
51000
53500
45
15500
18000
33500
50
60500
6500
67000
55
114500
4000
118500
60
173500
1500
175000
70
358500
500
359000
75
461000
0
461000
80
563500
0
563500
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.