This page reflects XP 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 — XP
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $16.00 (0.16 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$16.00
Nearest expiry
Expected Move
±$0.55
±3.5%
Days to Expiry
3
Calendar days
Total Call OI
8,904
Nearest expiry
Total Put OI
5,975
Nearest expiry
P/C OI Ratio
0.67
Put-heavy
Spot Price
$15.84
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
$15.50
8/7/2026, 11:40:16 PM
2026-08-14
$16.00
8/14/2026, 11:44:08 PM
2026-08-21NextUpdated
$16.00
8/18/2026, 11:39:23 PM
2026-08-28
$15.50
8/18/2026, 11:39:23 PM
2026-09-04
$16.50
8/18/2026, 11:39:23 PM
2026-09-11
$17.00
8/18/2026, 11:39:23 PM
2026-09-18
$16.00
8/18/2026, 11:39:23 PM
2026-11-20
$18.00
8/18/2026, 11:39:23 PM
2027-01-15
$17.00
8/18/2026, 11:39:23 PM
2027-02-19
$18.00
8/18/2026, 11:39:23 PM
Selected expiration: 2026-08-21 at max pain $16.00.
XP pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
10
0
3224100
3224100
11
1500
2636600
2638100
12
3500
2049100
2052600
13
6100
1493200
1499300
13.5
7450
1225750
1233200
14
8800
958550
967350
14.5
13200
702200
715400
15
18300
481000
499300
15.5
26100
332200
358300
16
78300
226550
304850
16.5
170750
155800
326550
17
287050
85300
372350
17.5
430800
47200
478000
18
580300
9300
589600
18.5
768000
7100
775100
19
956600
5000
961600
19.5
1201900
3350
1205250
20
1448050
1850
1449900
20.5
1707450
1200
1708650
21
1966850
550
1967400
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.