This page reflects XENE 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 — XENE
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $67.50 (4.32 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$67.50
Nearest expiry
Expected Move
±$2.85
±4.5%
Days to Expiry
3
Calendar days
Total Call OI
9,429
Nearest expiry
Total Put OI
4,482
Nearest expiry
P/C OI Ratio
0.48
Put-heavy
Spot Price
$63.18
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
$55.00
6/18/2026, 11:37:57 PM
2026-07-17
$55.00
7/17/2026, 11:41:58 PM
2026-08-21NextUpdated
$67.50
8/18/2026, 11:43:46 PM
2026-09-18
$55.00
8/18/2026, 11:43:46 PM
2026-10-16
$50.00
8/18/2026, 11:43:46 PM
2026-12-18
$50.00
8/18/2026, 11:43:46 PM
2027-01-15
$52.50
8/18/2026, 11:43:46 PM
Selected expiration: 2026-08-21 at max pain $67.50.
XENE pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
35
0
10461000
10461000
37.5
750
9340500
9341250
45
4500
5979000
5983500
47.5
6500
4858500
4865000
50
9000
3738000
3747000
52.5
11500
2618750
2630250
55
14000
1499750
1513750
57.5
16500
381250
397750
60
19000
244000
263000
62.5
23250
120500
143750
65
29750
67000
96750
67.5
59750
20500
80250
70
100750
500
101250
75
330750
0
330750
77.5
778750
0
778750
80
1227000
0
1227000
85
2546500
0
2546500
90
5671000
0
5671000
100
12077000
0
12077000
105
16791000
0
16791000
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.