This page reflects WEN 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 — WEN
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $8.00 (0.44 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$8.00
Nearest expiry
Expected Move
±$0.38
±4.4%
Days to Expiry
3
Calendar days
Total Call OI
155,503
Nearest expiry
Total Put OI
68,118
Nearest expiry
P/C OI Ratio
0.44
Put-heavy
Spot Price
$8.44
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
2026-08-07
$7.50
8/7/2026, 11:38:21 PM
2026-08-14
$8.00
8/14/2026, 11:41:39 PM
2026-08-21NextUpdated
$8.00
8/18/2026, 11:40:54 PM
2026-08-28
$8.00
8/18/2026, 11:40:54 PM
2026-09-04
$8.00
8/18/2026, 11:40:54 PM
2026-09-11
$8.00
8/18/2026, 11:40:54 PM
2026-09-18
$8.00
8/18/2026, 11:40:54 PM
2026-09-25
$6.00
8/18/2026, 11:40:54 PM
2026-10-02
$5.00
8/18/2026, 11:40:54 PM
2026-11-20
$8.00
8/18/2026, 11:40:54 PM
2027-01-15
$8.00
8/18/2026, 11:40:54 PM
2027-02-19
$8.00
8/18/2026, 11:40:54 PM
Selected expiration: 2026-08-21 at max pain $8.00.
WEN pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
47744400
47744400
2
8400
40937200
40945600
2.5
14300
37534850
37549150
3
20550
34135450
34156000
3.5
27000
30737250
30764250
4
33550
27341500
27375050
4.5
40950
23958650
23999600
5
48400
20575800
20624200
5.5
59900
17252450
17312350
6
73800
13929100
14002900
6.5
242500
10870750
11113250
7
417200
7830650
8247850
7.5
997800
5138150
6135950
8
1906400
2507250
4413650
8.5
4615450
1224700
5840150
9
7527050
49300
7576350
9.5
12422200
41100
12463300
10
17405500
33100
17438600
10.5
23503950
29300
23533250
11
29629350
25500
29654850
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.