This page reflects WW 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 — WW
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $12.50 (1.39 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$12.50
Nearest expiry
Expected Move
±$2.12
±15.3%
Days to Expiry
3
Calendar days
Total Call OI
6,143
Nearest expiry
Total Put OI
349
Nearest expiry
P/C OI Ratio
0.06
Put-heavy
Spot Price
$13.89
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
$12.50
6/18/2026, 11:34:27 PM
2026-07-17
$10.00
7/17/2026, 11:39:36 PM
2026-08-21NextUpdated
$12.50
8/18/2026, 11:41:14 PM
2026-09-18
$15.00
8/18/2026, 11:41:14 PM
2026-11-20
$10.00
8/18/2026, 11:41:14 PM
2027-02-19
$15.00
8/18/2026, 11:41:14 PM
Selected expiration: 2026-08-21 at max pain $12.50.
WW pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
5
0
393500
393500
7.5
0
306750
306750
10
500
221500
222000
12.5
34500
151500
186000
15
125500
102500
228000
17.5
286000
65000
351000
20
1308000
47500
1355500
22.5
2690750
36500
2727250
25
4100750
28000
4128750
30
6948250
15000
6963250
35
9884250
5000
9889250
40
12831250
500
12831750
45
15862250
0
15862250
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.