This page reflects WPM 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 — WPM
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $115.00 (17.70 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$115.00
Nearest expiry
Expected Move
±$5.55
±4.2%
Days to Expiry
3
Calendar days
Total Call OI
6,270
Nearest expiry
Total Put OI
6,186
Nearest expiry
P/C OI Ratio
0.99
Put-heavy
Spot Price
$132.70
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
$117.00
8/7/2026, 11:41:04 PM
2026-08-14
$123.00
8/14/2026, 11:41:29 PM
2026-08-21NextUpdated
$115.00
8/18/2026, 11:37:45 PM
2026-08-28
$111.00
8/18/2026, 11:37:45 PM
2026-09-04
$115.00
8/18/2026, 11:37:45 PM
2026-09-11
$120.00
8/18/2026, 11:37:45 PM
2026-09-18
$125.00
8/18/2026, 11:37:45 PM
2026-09-25
$130.00
8/18/2026, 11:37:45 PM
2026-10-16
$125.00
8/18/2026, 11:37:45 PM
2026-12-18
$135.00
8/18/2026, 11:37:45 PM
2027-01-15
$115.00
8/18/2026, 11:37:45 PM
2027-03-19
$120.00
8/18/2026, 11:37:45 PM
2027-06-17
$105.00
8/18/2026, 11:37:45 PM
Selected expiration: 2026-08-21 at max pain $115.00.
WPM pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
70
0
22107300
22107300
75
500
19014300
19014800
80
4000
15921300
15925300
85
10000
12837800
12847800
89
15600
10404600
10420200
90
17000
9797400
9814400
91
18800
9249400
9268200
93
22400
8153600
8176000
94
24200
7606100
7630300
95
26000
7058800
7084800
96
30700
6652800
6683500
97
35400
6248900
6284300
98
40100
5845900
5886000
99
44800
5443100
5487900
100
49500
5040900
5090400
101
57600
4776900
4834500
102
66700
4513200
4579900
103
75800
4250400
4326200
104
87000
3989900
4076900
105
98300
3729900
3828200
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.