Health Care Select Sector SPDRClose $169.73EOD only
Max Pain
$160.00
Next expiry Aug 21, 2026
Expected Move
±$2.43
1.4% from close
Price Gap
-9.73
Distance to max pain
IV Rank
31
Middle-high premium
P/C OI
1.43
Slightly put-heavy
Consensus
—
No reports available
Published snapshot: Aug 18, 2026 close
End-of-day snapshot
This page reflects XLV 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 — XLV
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $160.00 (9.73 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$160.00
Nearest expiry
Expected Move
±$2.43
±1.4%
Days to Expiry
3
Calendar days
Total Call OI
32,334
Nearest expiry
Total Put OI
23,828
Nearest expiry
P/C OI Ratio
0.74
Put-heavy
Spot Price
$169.73
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
$163.00
8/7/2026, 11:39:57 PM
2026-08-14
$165.00
8/14/2026, 11:43:45 PM
2026-08-21NextUpdated
$160.00
8/18/2026, 11:38:46 PM
2026-08-28
$161.00
8/18/2026, 11:38:46 PM
2026-09-04
$158.00
8/18/2026, 11:38:46 PM
2026-09-11
$161.00
8/18/2026, 11:38:46 PM
2026-09-18
$155.00
8/18/2026, 11:38:46 PM
2026-09-25
$164.00
8/18/2026, 11:38:46 PM
2026-10-02
$160.00
8/18/2026, 11:38:46 PM
2026-10-16
$165.00
8/18/2026, 11:38:46 PM
2026-12-18
$150.00
8/18/2026, 11:38:46 PM
2027-01-15
$148.00
8/18/2026, 11:38:46 PM
2027-03-19
$161.00
8/18/2026, 11:38:46 PM
2027-06-17
$165.00
8/18/2026, 11:38:46 PM
Selected expiration: 2026-08-21 at max pain $160.00.
XLV pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
75
0
191357250
191357250
80
1000
179443250
179444250
85
2500
167535250
167537750
90
5000
155627250
155632250
95
12500
143724250
143736750
100
24500
131826250
131850750
105
47500
119938750
119986250
110
78000
108051250
108129250
115
109500
96163750
96273250
120
143000
84282250
84425250
125
178000
72465750
72643750
130
214500
60653250
60867750
135
256000
48928250
49184250
138
300100
42019250
42319350
139
314800
39723350
40038150
140
330000
37428750
37758750
141
346600
35141850
35488450
142
363500
32855050
33218550
143
380400
30597750
30978150
144
397800
28371550
28769350
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.