This page reflects XIFR 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 — XIFR
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $12.00 (0.57 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$12.00
Nearest expiry
Expected Move
±$0.55
±4.8%
Days to Expiry
3
Calendar days
Total Call OI
4,744
Nearest expiry
Total Put OI
1,979
Nearest expiry
P/C OI Ratio
0.42
Put-heavy
Spot Price
$11.43
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
$11.00
6/18/2026, 11:34:03 PM
2026-07-17
$11.00
7/17/2026, 11:34:14 PM
2026-08-21NextUpdated
$12.00
8/18/2026, 11:40:32 PM
2026-09-18
$12.00
8/18/2026, 11:40:32 PM
2026-10-16
$11.00
8/18/2026, 11:40:32 PM
2026-11-20
$11.00
8/18/2026, 11:40:32 PM
2027-01-15
$10.00
8/18/2026, 11:40:32 PM
Selected expiration: 2026-08-21 at max pain $12.00.
XIFR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
4
0
1388700
1388700
5
0
1191000
1191000
6
0
993700
993700
7
0
796400
796400
8
0
599700
599700
9
0
403500
403500
10
3000
209300
212300
11
22000
55500
77500
12
48600
400
49000
13
180500
0
180500
14
501100
0
501100
15
913800
0
913800
16
1371100
0
1371100
17
1844300
0
1844300
18
2318400
0
2318400
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.