Consumer Staples Select Sector SPDRClose $85.58EOD only
Max Pain
$85.00
Next expiry Aug 21, 2026
Expected Move
±$4.72
5.5% from close
Price Gap
-0.58
Distance to max pain
IV Rank
26
Middle-high premium
P/C OI
3.55
Slightly put-heavy
Consensus
—
No reports available
Published snapshot: Aug 18, 2026 close
End-of-day snapshot
This page reflects XLP 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 — XLP
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $85.00 (0.58 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$85.00
Nearest expiry
Expected Move
±$4.72
±5.5%
Days to Expiry
3
Calendar days
Total Call OI
30,204
Nearest expiry
Total Put OI
34,059
Nearest expiry
P/C OI Ratio
1.13
Put-heavy
Spot Price
$85.58
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
2026-08-07
$85.00
8/7/2026, 11:41:06 PM
2026-08-14
$84.50
8/14/2026, 11:41:58 PM
2026-08-21NextUpdated
$85.00
8/18/2026, 11:39:13 PM
2026-08-28
$85.50
8/18/2026, 11:39:13 PM
2026-09-04
$85.00
8/18/2026, 11:39:13 PM
2026-09-11
$85.00
8/18/2026, 11:39:13 PM
2026-09-18
$86.00
8/18/2026, 11:39:13 PM
2026-09-25
$85.00
8/18/2026, 11:39:13 PM
2026-10-02
$85.00
8/18/2026, 11:39:13 PM
2026-10-16
$85.00
8/18/2026, 11:39:13 PM
2026-12-18
$85.00
8/18/2026, 11:39:13 PM
2027-01-15
$84.00
8/18/2026, 11:39:13 PM
2027-03-19
$86.00
8/18/2026, 11:39:13 PM
2027-06-17
$85.00
8/18/2026, 11:39:13 PM
Selected expiration: 2026-08-21 at max pain $85.00.
XLP pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
113722150
113722150
60
0
79665150
79665150
65
2000
62636650
62638650
70
8000
45608150
45616150
71
9200
42202550
42211750
72
10800
38798650
38809450
73
12700
35394750
35407450
74
15200
31993650
32008850
75
18600
28593150
28611750
76
23200
25206550
25229750
77
27900
21822650
21850550
78
32600
18440950
18473550
79
37500
15084150
15121650
79.5
41450
13451350
13492800
80
45400
11818750
11864150
80.5
51500
10294150
10345650
81
57700
8771200
8828900
81.5
66450
7335300
7401750
82
75650
5950250
6025900
82.5
85950
4796200
4882150
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.