This page reflects ZBH 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 — ZBH
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $90.00 (9.15 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$90.00
Nearest expiry
Expected Move
±$2.00
±2.0%
Days to Expiry
3
Calendar days
Total Call OI
2,257
Nearest expiry
Total Put OI
1,975
Nearest expiry
P/C OI Ratio
0.88
Put-heavy
Spot Price
$99.15
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
$85.00
6/18/2026, 11:39:52 PM
2026-07-17
$85.00
7/17/2026, 11:38:39 PM
2026-08-21NextUpdated
$90.00
8/18/2026, 11:44:06 PM
2026-09-18
$90.00
8/18/2026, 11:44:06 PM
2026-12-18
$85.00
8/18/2026, 11:44:06 PM
2027-01-15
$100.00
8/18/2026, 11:44:06 PM
2027-03-19
$80.00
8/18/2026, 11:44:06 PM
2027-06-17
$85.00
8/18/2026, 11:44:06 PM
Selected expiration: 2026-08-21 at max pain $90.00.
ZBH pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
65
0
4123500
4123500
70
0
3137000
3137000
75
3500
2156000
2159500
80
7500
1285500
1293000
85
14000
459000
473000
90
27500
20000
47500
95
77000
6500
83500
100
182500
2500
185000
105
706500
0
706500
110
1804500
0
1804500
115
2912500
0
2912500
125
5130500
0
5130500
130
6241000
0
6241000
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.