This page reflects WVE 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 — WVE
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $6.00 (0.71 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$6.00
Nearest expiry
Expected Move
±$0.57
±10.9%
Days to Expiry
3
Calendar days
Total Call OI
1,698
Nearest expiry
Total Put OI
2,161
Nearest expiry
P/C OI Ratio
1.27
Put-heavy
Spot Price
$5.29
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
$6.00
6/18/2026, 11:39:48 PM
2026-07-17
$7.00
7/17/2026, 11:41:07 PM
2026-08-21NextUpdated
$6.00
8/18/2026, 11:42:58 PM
2026-09-18
$5.00
8/18/2026, 11:42:58 PM
2026-10-16
$6.00
8/18/2026, 11:42:58 PM
2026-12-18
$5.00
8/18/2026, 11:42:58 PM
2027-01-15
$5.00
8/18/2026, 11:42:58 PM
2027-06-17
$3.00
8/18/2026, 11:42:58 PM
Selected expiration: 2026-08-21 at max pain $6.00.
WVE pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
1
0
900000
900000
2
700
684200
684900
4
2100
252800
254900
5
3000
40300
43300
6
6800
2300
9100
7
72500
100
72600
8
207800
0
207800
9
363600
0
363600
10
532900
0
532900
12
872100
0
872100
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.