This page reflects WELL 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 — WELL
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $230.00 (5.44 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$230.00
Nearest expiry
Expected Move
±$5.90
±2.5%
Days to Expiry
3
Calendar days
Total Call OI
2,878
Nearest expiry
Total Put OI
1,653
Nearest expiry
P/C OI Ratio
0.57
Put-heavy
Spot Price
$235.44
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
$195.00
6/18/2026, 11:32:30 PM
2026-07-17
$220.00
7/17/2026, 11:37:22 PM
2026-08-21NextUpdated
$230.00
8/18/2026, 11:43:05 PM
2026-09-18
$230.00
8/18/2026, 11:43:05 PM
2026-12-18
$220.00
8/18/2026, 11:43:05 PM
2027-01-15
$195.00
8/18/2026, 11:43:05 PM
2027-02-19
$220.00
8/18/2026, 11:43:05 PM
2027-03-19
$240.00
8/18/2026, 11:43:05 PM
2027-05-21
$230.00
8/18/2026, 11:43:05 PM
Selected expiration: 2026-08-21 at max pain $230.00.
WELL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
135
0
14602000
14602000
140
0
13776000
13776000
145
0
12950500
12950500
165
0
9648500
9648500
170
0
8823000
8823000
175
0
7998000
7998000
180
0
7174000
7174000
185
0
6351000
6351000
190
0
5529000
5529000
195
0
4717500
4717500
200
0
3907000
3907000
210
0
2400000
2400000
220
10000
994000
1004000
230
141000
223000
364000
240
372000
1000
373000
250
1169000
0
1169000
260
2706000
0
2706000
270
4961000
0
4961000
280
7578000
0
7578000
290
10431000
0
10431000
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.