This page reflects XPO 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 — XPO
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $200.00 (2.72 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$200.00
Nearest expiry
Expected Move
±$6.10
±3.0%
Days to Expiry
3
Calendar days
Total Call OI
1,740
Nearest expiry
Total Put OI
3,262
Nearest expiry
P/C OI Ratio
1.87
Put-heavy
Spot Price
$202.72
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
$180.00
6/18/2026, 11:38:38 PM
2026-07-17
$210.00
7/17/2026, 11:41:21 PM
2026-08-21NextUpdated
$200.00
8/18/2026, 11:44:43 PM
2026-09-18
$190.00
8/18/2026, 11:44:43 PM
2026-11-20
$195.00
8/18/2026, 11:44:43 PM
2026-12-18
$165.00
8/18/2026, 11:44:43 PM
2027-01-15
$140.00
8/18/2026, 11:44:43 PM
2027-02-19
$100.00
8/18/2026, 11:44:43 PM
2027-03-19
$230.00
8/18/2026, 11:44:43 PM
2027-06-17
$175.00
8/18/2026, 11:44:43 PM
Selected expiration: 2026-08-21 at max pain $200.00.
XPO pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
75
0
30653000
30653000
80
0
29023000
29023000
85
1500
27393500
27395000
90
3500
25765000
25768500
95
5500
24138000
24143500
100
7500
22512000
22519500
105
10500
20887500
20898000
110
13500
19263000
19276500
115
20000
17639000
17659000
120
27000
16015500
16042500
125
35000
14392000
14427000
130
43500
12768500
12812000
135
52500
11155000
11207500
140
62000
9541500
9603500
145
72500
7928000
8000500
150
83000
6314500
6397500
155
93500
4701500
4795000
160
105500
3098500
3204000
165
124000
2676500
2800500
170
147500
2257500
2405000
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.