This page reflects ZD 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 — ZD
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $55.00 (0.09 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$55.00
Nearest expiry
Expected Move
±$2.25
±4.1%
Days to Expiry
3
Calendar days
Total Call OI
2,276
Nearest expiry
Total Put OI
175
Nearest expiry
P/C OI Ratio
0.08
Put-heavy
Spot Price
$55.09
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
$45.00
6/18/2026, 11:38:57 PM
2026-07-17
$45.00
7/17/2026, 11:36:39 PM
2026-08-21NextUpdated
$55.00
8/18/2026, 11:42:38 PM
2026-09-18
$40.00
8/18/2026, 11:42:38 PM
2026-12-18
$40.00
8/18/2026, 11:42:38 PM
2027-01-15
$50.00
8/18/2026, 11:42:38 PM
2027-03-19
$35.00
8/18/2026, 11:42:38 PM
Selected expiration: 2026-08-21 at max pain $55.00.
ZD pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
318500
318500
40
0
175500
175500
45
0
112500
112500
50
0
56000
56000
55
4000
0
4000
60
1109000
0
1109000
65
2216000
0
2216000
70
3327500
0
3327500
75
4460000
0
4460000
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.