Consumer Discretionary Select Sector SPDRClose $116.36EOD only
Max Pain
$115.00
Next expiry Aug 21, 2026
Expected Move
±$4.80
4.1% from close
Price Gap
-1.36
Distance to max pain
IV Rank
7
Low premium
P/C OI
3.14
Slightly put-heavy
Consensus
—
No reports available
Published snapshot: Aug 18, 2026 close
End-of-day snapshot
This page reflects XLY 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 — XLY
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $115.00 (1.36 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$115.00
Nearest expiry
Expected Move
±$4.80
±4.1%
Days to Expiry
3
Calendar days
Total Call OI
11,203
Nearest expiry
Total Put OI
11,831
Nearest expiry
P/C OI Ratio
1.06
Put-heavy
Spot Price
$116.36
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
$110.00
8/7/2026, 11:38:54 PM
2026-08-14
$114.00
8/14/2026, 11:45:06 PM
2026-08-21NextUpdated
$115.00
8/18/2026, 11:43:45 PM
2026-08-28
$117.50
8/18/2026, 11:43:45 PM
2026-09-04
$118.00
8/18/2026, 11:43:45 PM
2026-09-11
$116.50
8/18/2026, 11:43:45 PM
2026-09-18
$120.00
8/18/2026, 11:43:45 PM
2026-09-25
$117.00
8/18/2026, 11:43:45 PM
2026-10-02
$105.00
8/18/2026, 11:43:45 PM
2026-10-16
$119.00
8/18/2026, 11:43:45 PM
2026-12-18
$127.50
8/18/2026, 11:43:45 PM
2027-01-15
$117.50
8/18/2026, 11:43:45 PM
2027-03-19
$116.00
8/18/2026, 11:43:45 PM
2027-06-17
$126.00
8/18/2026, 11:43:45 PM
Selected expiration: 2026-08-21 at max pain $115.00.
XLY pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
85
0
31380450
31380450
90
500
25464950
25465450
95
1500
19549450
19550950
98
6300
16001050
16007350
99
8100
14818250
14826350
100
10200
13635450
13645650
101
13400
12454050
12467450
102
16800
11272650
11289450
104
24000
8909850
8933850
105
27600
7731450
7759050
106
31300
6693050
6724350
107
35000
5674650
5709650
108
39400
4677350
4716750
109
43800
3802550
3846350
110
58500
2931650
2990150
111
76600
2107250
2183850
111.5
89150
1778800
1867950
112
102000
1453600
1555600
112.5
115850
1154650
1270500
113
140350
878600
1018950
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.