Real Estate Select Sector SPDRClose $44.63EOD only
Max Pain
$42.00
Next expiry Aug 21, 2026
Expected Move
±$0.55
1.2% from close
Price Gap
-2.63
Distance to max pain
IV Rank
79
High premium
P/C OI
0.97
Balanced positioning
Consensus
—
No reports available
Published snapshot: Aug 18, 2026 close
End-of-day snapshot
This page reflects XLRE 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 — XLRE
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $42.00 (2.63 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$42.00
Nearest expiry
Expected Move
±$0.55
±1.2%
Days to Expiry
3
Calendar days
Total Call OI
7,402
Nearest expiry
Total Put OI
3,326
Nearest expiry
P/C OI Ratio
0.45
Put-heavy
Spot Price
$44.63
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
$43.00
6/18/2026, 11:38:50 PM
2026-07-17
$44.00
7/17/2026, 11:41:35 PM
2026-08-21NextUpdated
$42.00
8/18/2026, 11:43:56 PM
2026-09-18
$45.00
8/18/2026, 11:43:56 PM
2026-11-20
$43.00
8/18/2026, 11:43:56 PM
2027-01-15
$37.00
8/18/2026, 11:43:56 PM
2027-02-19
$40.00
8/18/2026, 11:43:56 PM
Selected expiration: 2026-08-21 at max pain $42.00.
XLRE pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
3983500
3983500
31
25300
3651200
3676500
32
84500
3319000
3403500
33
162200
2986800
3149000
34
259300
2654700
2914000
35
377300
2322600
2699900
36
516200
1990600
2506800
37
655100
1662400
2317500
38
794100
1339100
2133200
39
933400
1024700
1958100
40
1072900
713600
1786500
41
1215600
480400
1696000
42
1371700
257900
1629600
43
1552200
115000
1667200
44
1762300
33100
1795400
45
1990000
2500
1992500
46
2416500
500
2417000
47
3023200
300
3023500
48
3736900
100
3737000
49
4475900
0
4475900
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.