This page reflects ZETA 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 — ZETA
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $22.50 (5.73 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$22.50
Nearest expiry
Expected Move
±$1.37
±4.8%
Days to Expiry
3
Calendar days
Total Call OI
45,795
Nearest expiry
Total Put OI
13,316
Nearest expiry
P/C OI Ratio
0.29
Put-heavy
Spot Price
$28.23
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
$22.00
8/7/2026, 11:39:41 PM
2026-08-14
$24.00
8/14/2026, 11:38:25 PM
2026-08-21NextUpdated
$22.50
8/18/2026, 11:44:53 PM
2026-08-28
$25.00
8/18/2026, 11:44:53 PM
2026-09-04
$25.00
8/18/2026, 11:44:53 PM
2026-09-11
$25.50
8/18/2026, 11:44:53 PM
2026-09-18
$20.00
8/18/2026, 11:44:53 PM
2026-09-25
$27.00
8/18/2026, 11:44:53 PM
2026-10-02
$25.00
8/18/2026, 11:44:53 PM
2026-12-18
$25.00
8/18/2026, 11:44:53 PM
2027-01-15
$17.50
8/18/2026, 11:44:53 PM
2027-03-19
$15.00
8/18/2026, 11:44:53 PM
Selected expiration: 2026-08-21 at max pain $22.50.
ZETA pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
7.5
0
21216050
21216050
10
0
17888550
17888550
12
200
15233150
15233350
12.5
400
14569300
14569700
13
2950
13906350
13909300
14
8050
12587350
12595400
14.5
10600
11928150
11938750
15
13150
11269000
11282150
15.5
17550
10632800
10650350
16
22050
9996700
10018750
16.5
26650
9370850
9397500
17
31300
8748350
8779650
17.5
35950
8130850
8166800
18
48050
7599000
7647050
18.5
60300
7100000
7160300
19
72650
6603400
6676050
19.5
86850
6111950
6198800
20
104650
5622550
5727200
20.5
328450
5173950
5502400
21
553700
4742350
5296050
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.