What is Z max pain this week?

Z max pain for the nearest expiration (2026-08-21) is $35.00. Total call open interest: 17,249. Total put open interest: 17,052.

What is max pain in options?

Max pain is the strike price where option holders (buyers of both puts and calls) would collectively lose the most money at expiration. It represents the point of maximum financial pain for option buyers, and theory suggests stock prices tend to gravitate toward max pain as expiration approaches.

Home Options ZMax Pain

Z

Zillow Group, Inc.Close $36.58EOD only

Max Pain

$35.00

Next expiry Aug 21, 2026

Expected Move

±$1.98

5.4% from close

Price Gap

-1.58

Distance to max pain

IV Rank

Low premium

P/C OI

0.71

Slightly call-heavy

Consensus

4/4

Partial coverage

Published snapshot: Aug 19, 2026 close

End-of-day snapshot

This page reflects Z options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

Aug 19, 2026 close

Max Pain — Z

Data as of market close Aug 19, 2026

Open Available Reports (4/4)

Nearest listed expiration 2026-08-21 shows max pain at $35.00 (1.58 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.

Max Pain Strike

$35.00

Nearest expiry

Expected Move

±$1.98

±5.4%

Days to Expiry

Calendar days

Total Call OI

17,249

Nearest expiry

Total Put OI

17,052

Nearest expiry

P/C OI Ratio

0.99

Put-heavy

Spot Price

$36.58

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	$42.50	6/18/2026, 11:33:03 PM
2026-07-17	$35.00	7/17/2026, 11:41:34 PM
2026-08-21NextUpdated	$35.00	8/19/2026, 11:42:38 PM
2026-09-18	$35.00	8/19/2026, 11:42:38 PM
2026-11-20	$35.00	8/19/2026, 11:42:38 PM
2026-12-18	$42.50	8/19/2026, 11:42:38 PM
2027-01-15	$35.00	8/19/2026, 11:42:38 PM
2027-02-19	$30.00	8/19/2026, 11:42:38 PM
2027-03-19	$35.00	8/19/2026, 11:42:38 PM
2027-06-17	$37.50	8/19/2026, 11:42:38 PM

Selected expiration: 2026-08-21 at max pain $35.00.

Z pain by strike for 2026-08-21 expiration
Strike	Call Pain	Put Pain	Total Pain
20	0	17920500	17920500
22.5	2500	13719750	13722250
25	5250	9876500	9881750
27.5	13750	6340500	6354250
30	50500	3536500	3587000
32.5	144000	1671750	1815750
35	512500	645000	1157500
37.5	1160750	200250	1361000
40	2064000	94250	2158250
42.5	3318500	69750	3388250
45	4989000	46000	5035000
47.5	7351250	30000	7381250
50	9922250	21250	9943500
52.5	13579000	13750	13592750
55	17425000	6250	17431250
57.5	21374250	5000	21379250
60	25372250	3750	25376000
62.5	29457500	2500	29460000
65	33560500	1500	33562000
67.5	37770750	500	37771250

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.