Nearest listed expiration 2026-08-19 shows max pain at $58.00 (0.42 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$58.00
Nearest expiry
Expected Move
±$0.46
±0.8%
Days to Expiry
2
Calendar days
Total Call OI
251
Nearest expiry
Total Put OI
1,046
Nearest expiry
P/C OI Ratio
4.17
Put-heavy
Spot Price
$57.58
Published close
Consensus
7.0/10
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-08-19
Expiration
Max Pain Strike
Last Updated
2026-08-14
$57.50
8/14/2026, 11:44:09 PM
2026-08-17Updated
$57.50
8/17/2026, 11:41:40 PM
2026-08-19Next
$58.00
8/17/2026, 11:41:40 PM
2026-08-21
$54.50
8/17/2026, 11:41:40 PM
2026-08-24
$58.00
8/17/2026, 11:41:40 PM
2026-08-26
$58.00
8/17/2026, 11:41:40 PM
2026-08-28
$56.00
8/17/2026, 11:41:40 PM
2026-09-04
$57.50
8/17/2026, 11:41:40 PM
2026-09-11
$57.00
8/17/2026, 11:41:40 PM
2026-09-18
$54.00
8/17/2026, 11:41:40 PM
2026-09-25
$59.00
8/17/2026, 11:41:40 PM
2026-09-30
$53.00
8/17/2026, 11:41:40 PM
2026-10-02
$58.00
8/17/2026, 11:41:40 PM
2026-10-16
$55.00
8/17/2026, 11:41:40 PM
2026-11-20
$56.00
8/17/2026, 11:41:40 PM
2026-12-18
$52.00
8/17/2026, 11:41:40 PM
2026-12-31
$51.00
8/17/2026, 11:41:40 PM
2027-01-15
$54.00
8/17/2026, 11:41:40 PM
2027-03-19
$58.00
8/17/2026, 11:41:40 PM
2027-03-31
$58.00
8/17/2026, 11:41:40 PM
2027-06-17
$56.00
8/17/2026, 11:41:40 PM
2027-06-30
$53.00
8/17/2026, 11:41:40 PM
Selected expiration: 2026-08-19 at max pain $58.00.
XLF pain by strike for 2026-08-19 expiration
Strike
Call Pain
Put Pain
Total Pain
41
0
2166100
2166100
46
2000
1475100
1477100
47
4200
1336900
1341100
53.5
30200
438600
468800
55.5
38200
162200
200400
56
40200
93250
133450
56.5
42450
63350
105800
57
44800
34350
79150
57.5
47600
9350
56950
58
51550
1550
53100
58.5
63050
600
63650
59
84200
300
84500
59.5
106700
150
106850
60
129400
0
129400
62
221000
0
221000
67
451500
0
451500
68
497600
0
497600
71
635900
0
635900
72
682000
0
682000
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.